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Thrift Savings Plan

Thrift Savings Plan (TSP) is the federal government's retirement savings and investment plan and offers many of the same types of savings and tax benefits as 401(k) plans used by private employers. TSP is administered by the Federal Retirement Thrift Investment Board and is the largest defined contribution plan in the world. As a defined contribution plan, the retirement income you receive from TSP depends on the contributions made during your working years.

Understanding TSP

Employees contribute into their TSP account via payroll deductions and are eligible for matching contributions from the government. Federal employees hired or rehired after August 1, 2010, are automatically enrolled in TSP. TSP's How TSP Fits Into Your Retirement explains how your hire date and retirement system impact automatic enrollment contributions. The automatic enrollment amount increased from 3% to 5% of an employee's basic salary on October 1, 2020.   

CBP employees can start, change or stop their payroll deductions contributing to their TSP account at any time. Employees who opt out of TSP have 90 days from the date of their first contribution to request a refund of automatic enrollment contributions and earnings. Summary of the Thrift Savings Plan provides federal employees information on establishing and managing their TSP accounts, as well as accessing account funds. 

TSP's website also offers easy-to-follow guides such as:

Visit for additional information on managing your plan, fund options and performance, investment planning and using you savings before and during your retirement.

Accessing Your TSP Account

TSP participants can access their account information online. Effective June 8, 2022, all TSP participants must complete a one-time process to set up a new login for their new My Account. The process is simple, secure and can be completed from any government or personal device:

  • Enter your name, date of birth and social security information to locate your account
  • TSP will either text, call or mail you verification information, based upon the contact preferences you select
  • Enter the verification number to access the username and password feature
  • Create your new username and password
  • Secure your account with one of the multi-factor authentication options (text, voice call or authenticator app)

Once My Account is set up, you can use your new username and password to access your TSP account. Participants can unlock their account should they forget their username or password.   

TSP Recent Updates

TSP is continually expanding the features and tools available to help federal employees better manage their retirement savings. From expanded support options to a new mobile app, TSP's newest features focus on making retirement planning and account management easier. TSP participants are encouraged to review the Summary or Changes and updated Plan Summary to learn about how the new TSP features can impact their account or enhance their experience.  

A few of the recent updates include: 

  • TSP Mobile App
  • Expanded support options to include ThriftLine representatives, 24/7 virtual assistance and secure mailboxes
  • Improved account access and security
  • Update beneficiary information online
  • Manage communications regarding your TSP account activity

Welcome to the New TSP offers a walkthrough of the new features and customizable options available through the new TSP site.

Related Information


Last Modified: Jul 02, 2024
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