Thrift Savings Plan (TSP) 10-03 Open Season Announcement
This MARADMIN announces the Thrift Savings Plan (TSP) open season running from October 15 to December 31, 2003, which is the only time active duty Marines can enroll in TSP. During this period, Marines can invest up to 9 percent of their base pay, with a maximum contribution of $13,000, in a long-term retirement savings and investment plan offering five investment fund options.
Issued: October 9, 2003
1. PER REF A, THE NEXT TSP OPEN SEASON WILL RUN FROM 15 OCT TO 31 DEC 2003. OPEN SEASON IS THE ONLY TIME MARINES CURRENTLY ON ACTIVE DUTY ARE AFFORDED THE OPPORTUNITY TO ENROLL IN THE TSP. DURING THIS OPEN SEASON, MARINES ARE AFFORDED THE OPPORTUNITY TO INVEST UP TO 9 PERCENT OF THEIR BASE PAY UP TO $13,000. 2. TSP IS A LONG-TERM SAVINGS AND INVESTMENT PLAN. IT IS A CONVENIENT WAY FOR MARINES TO GAIN PRACTICAL EXPERIENCE IN MANAGING INVESTMENTS. BY INVESTING EARLY IN LIFE, MARINES ARE ABLE TO FULLY EXPLOIT THE EARNING POWER OF COMPOUND GROWTH. ADDITIONALLY, A COMMITMENT TO LONG-TERM FINANCIAL PLANNING WILL SERVE MARINES WELL WHETHER CONCERNED FOR THEIR CHILDREN'S EDUCATION OR SUPPLEMENTING THEIR CURRENT RETIREMENT BENEFITS. 3. THE TSP CURRENTLY OFFERS PARTICIPANTS FIVE INVESTMENT OPTIONS. ALL NEW PARTICIPANTS ARE INITIALLY ENROLLED IN THE GOVERNMENT SECURITIES INVESTMENT (G) FUND. ONCE A TSP ACCOUNT IS ESTABLISHED (UPON RECEIPT OF THE FIRST CONTRIBUTION), THE MARINE WILL RECEIVE AN INTRODUCTORY LETTER AND A PERSONAL IDENTIFICATION NUMBER (PIN). PARTICIPANTS CAN THEN ALLOCATE ALL OR PORTIONS OF THEIR CONTRIBUTIONS INTO THE FOLLOWING INVESTMENT FUNDS: GOVERNMENT SECURITIES INVESTMENT (G) FUND, FIXED INCOME INDEX INVESTMENT (F) FUND, COMMON STOCK INDEX INVESTMENT (C) FUND, SMALL CAPITALIZATION STOCK INDEX INVESTMENT (S) FUND, OR THE INTERNATIONAL STOCK INDEX INVESTMENT (I) FUND. WITH THE EXCEPTION OF THE G-FUND, ALL TSP INVESTMENTS ENTAIL SOME LEVEL OF RISK. 4. FOR MARINES ENROLLED IN THE TSP AND IN A COMBAT ZONE TAX EXCLUSION (CZTE) AREA, TSP DEDUCTIONS WILL BE APPLIED TO NON-TAXABLE INCOME FIRST. 5. A LIST OF SPECIAL AND INCENTIVE PAYS, FOR THE PURPOSE OF TSP, IS PROVIDED ON MARINE ON LINE (MOL). 6. THE MOST EFFICIENT WAY FOR MARINES TO ENROLL IN TSP IS USING MYPAY, FORMERLY KNOWN AS EMPLOYEE/MEMBER SELF SERVICE (EMSS). TO ESTABLISH A MYPAY ACCOUNT, CALL THE INTERACTIVE VOICE RESPONSE SYSTEM (IVRS) 1-877-DOD-EMSS (1-877-363-3677) OR COMMERCIAL (478) 757-3119. MARINES NEEDING ASSISTANCE TO ESTABLISH A TEMPORARY PERSONAL IDENTIFICATION NUMBER (PIN)THROUGH DFAS/EMSS/MYPAY (THE PIN IS FOR MYPAY ONLY - NOT YOUR TSP ACCOUNT) CAN CALL THE MYPAY CUSTOMER SUPPORT UNIT (CSU) AT 1-800-390-2348 OR COMMERCIAL (216) 522-5122 BETWEEN THE HOURS OF 0700 AND 1900 EDT, MONDAY THROUGH FRIDAY. 7. ADDITIONAL DETAILS CAN BE FOUND ON MOL WWW.MOL.USMC.MIL, AND ON THE TSP WEB SITE WWW.TSP.GOV.