Skip to main content (Press Enter).
 News
    
        Photos

    Week in Photos

    Air Force TV

    Commentaries

    Features

    Art

    About Us
    
        Air Force Senior Leaders
    
        SECAF

    CSAF

    CMSAF

    Biographies

    Fact Sheets

    SECAF Reading List

    CSAF Leadership Library
    
        CSAF Leadership Library 2022

    CSAF Leadership Library 2021

    CSAF Reading List Pre-2020 Archive
    
        2018 CSAF Reading List

    2017 CSAF Reading List

    2016 CSAF Reading List

    CSAF Leadership Library 2023

    CMSAF Leadership Library

    50 Years of the CMSAF

    Adjunct Professors

    Air Force Strategic Documents

    Arctic Strategy

    Empowered Airmen

    State Licensure Portability

    Careers

    AF Federal Advisory Committees

    AF 75th Anniversary

    Policy Updates

    AF Content Management

    Contact Us

    AF Sites
    
        Site RegistrationU.S. Air Force LogoAir Force

        Policy UpdatesNewsroomReoptimizationBIOGRAPHIESAF Senior Leaders      Take 'FIVE' to get free money for your TSP accountPublished May 16, 2014
                    
                    By Janis El Shabazz
                    
                    
                    Air Force Personnel Center
            
**JOINT BASE SAN ANTONIO-RANDOLPH, Texas (AFNS)**-- The Thrift Savings Plan has launched the "Take FIVE for Your Future" educational campaign encouraging civilian employees to take advantage of free government TSP matching contributions by putting at least 5 percent from each paycheck into their account. 
"Employees who fail to do this are losing out on thousands of dollars that can help them down the road when they get ready to retire," said Carlos Colon, The Air Force Personnel Center benefits and entitlements technical oversight team lead. 
The government provides matching contributions on the first 5 percent of pay contributed each pay period. All civilian employees automatically receive a government 1 percent contribution. The first 3 percent will be matched dollar-for-dollar; the next 2 percent will be matched at 50 cents on the dollar. If employees stop making regular employee contributions, the matching contributions will also stop.
The campaign which also includes a YouTube video highlights the plan's five core funds and five lifecycle funds available for employee investments.
For employees who are unsure which funds to select, the TSP offers lifecycle funds which automatically manage TSP contributions based on an employee's target retirement date. Each L fund is invested in a combination of the five individual TSP funds to maintain an optimal balance of investment risks and rewards for a particular time horizon.
Colon said a common reason for employees hesitating to make the 5 percent contribution stems from not understanding how TSP works or not wanting to part with the money from each paycheck.
"While wanting to keep the extra money each month is understandable," he said, "Employees should consider the impact that these contributions can have over the course of a career working for the government."
Colon said according to TSP, an employee earning $50,000 per year who contributes 5 percent to their TSP, about $95 per paycheck, and earns an average annual rate of return of 6 percent can potentially have a TSP account worth as much as $418,000 after 30 years.
"The old financial adage about 'paying yourself first' definitely applies to TSP contributions," Colonsaid. "The earlier you begin to save for your retirement, the easier it will be to weather short-term market fluctuations and gain the maximum savings benefit."
To learn more about the TSP "Take FIVE for Your Future" campaign, visit the TSPwebsite.
Air Force civilians can make TSP elections through the Employee Benefits Information System.
For more information about other personnel issues, visit the myPers website. To access EBIS select the link under the 'I would like to' section. Log into the site with your social security number and EBIS personal identification number.
New users who do not have a PIN must click the 'new user' option to create one. Employees, who have forgotten their PIN can reset it by providing six pieces of previously established information. After answering the security questions select, the "forgot login" link and enter the requested information.savings 



Air Force Personnel Center 



Take FIVE for Your Future 



TSP

Related Links
        Thrift Savings Plan Featured News
        Senior Leader Priorities
                SecAF Kendall visits Bangor ANG Base
                    
                    Vice President Harris congratulates USAFA Class of ‘24
                    
                    Senate confirms Melissa Dalton as next Under Secretary of the Air Force
                    
                    ‘One Team, One Fight’: SecAF visits Keesler AFB
                    
                    SecAF Kendall experiences VISTA of future flight test at Edwards AFBInnovation
                AFSFC reaches final phase of fielding Model Defender gear
                    
                    Around the Air Force: PCS Allowances, Air Task Forces, All-Volunteer Force
                    
                    AFIMSC focuses I-WEPTAC topics on GPC solutions
                    
                    Optimizing AI, Air University hosts Artificial Intelligence Symposium
                    
                    AFIMSC tools deliver data-driven solutions across DAFMAJCOM News
                AFMC to expand AcqDemo workforce
                    
                    AFMC empowers small businesses for Air Force reoptimization
                    
                    Acquisition Instructor Course Class 25A open for nominations
                    
                    Air Guard leaders host 2024 Wing Leader Conference
                    
                    Referral bonuses aim to help fill mission-critical vacancies
 Quick Links
AccessibilityContact UsEqual OpportunityFOIA | Privacy | Section 508Information QualityInspector GeneralJAG Court-Martial DocketLink DisclaimerNo FEAR ActOpen GovernmentOSI Tip LinePlain LanguageQuestionsResilienceRSSSite MapVeterans Crisis LineCareers
Join the Air ForceAir Force BenefitsAir Force CareersAir Force ReserveAir National GuardCivilian ServiceConnect
            Get Social with Us
            
            Official United States Air Force Website
    Hosted by Defense Media Activity - WEB.mil