Benefits for those who served
Military retirement pay is intended to recognize the selfless dedication to a career in the military. Calculating these benefits, though, depends on a number of factors including years of service and the rank you hold at the time of your retirement. One way for members of the uniformed services to supplement their retirement income is to participate in the Thrift Savings Plan (TSP).
Unlike participation in the uniformed services retirement system, participation in the TSP is optional. You contribute to the TSP from your own pay – the amount you contribute and the earnings attributable to your contributions belong to you. They are yours to keep even if you do not serve the 20 or more years ordinarily necessary to receive uniformed services retired pay. Contact us to learn more.