Frequently Asked Questions| Using TSP Calculators |
| Frequently Asked Questions |
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1. How do I use the "Projecting Your Account Balance" calculator? 
Follow these steps:
You will see two tables:
1. "Growth of Your Future Contributions and Earnings" and
2. "Growth of Your Existing Account."
Enter the variables requested in one or both tables, as appropriate, including an assumed rate of return (the percentage you believe you will earn on your investment). If you make an error or wish to change the information in any of the boxes, erase all of the numbers in that box before you enter your new information.
Click the Calculate button at the bottom of the page.
You can view your results at the top of the screen. If you scroll down, you will see the two tables filled with the information you entered.
If you want to do another calculation:
Delete all of the numbers that you want to change, and enter new ones.
Click the Re-Calculate button at the bottom of the page. If you are following these steps, but are still unable to use the calculator, try the suggestions below:
Make sure you are using a current version of your browser. Older browsers may not perform correctly.
Try reducing the font size of your display. Switching to a smaller font has worked for some participants whose computers were coming up with $0.
2. Can I project how money will grow in my TSP account even after my contributions stop?
Yes. To project your account balance when the length of time you plan to contribute differs from the length of time you plan to leave your money in the TSP, you can use the process described below. For this example, the instructions assume you will be leaving Federal service in 8 years, but leaving your money in the TSP for an additional 7 years (or a total of 15 years).
Fill in the first part of the calculator (Growth of Your Future Contributions and Earnings), which will project your future contributions for the length of time you plan to continue to contribute to the TSP (for this example, 8 years).
Then fill in the second part of the calculator (Growth of Your Existing Account), which will project the growth of your current TSP account balance over the same period (for this example, 8 years).
Then click on Calculate. The calculator will calculate — and add together — the growth of your future contributions and their earnings and the growth of your existing account. At the top of the page, it will show you the results of all these calculations. Of those results, your Total estimated account balance represents the amount of money you will have in your account when you leave Federal service and stop making contributions (for this example, in 8 years)
You may want to make note of this figure on paper. However, it should not disappear from the screen until you have completed your next calculation.
Next, clear the information you entered in both tables and use the result from your previous calculations to project the growth of your Total estimated account balance over the additional number of years you expect to leave your money in the TSP (for this example, 7). To do this, use only the second part of the calculator.
Enter the amount of the Total estimated account balance from your first calculations where you are asked to enter "the amount you already have in your TSP account."
Then enter the number of additional years you are planning to leave your money in the TSP (for this example, 7 years). This number is the additional number of years you expect to keep your money in your TSP account after you separate from service.
Re-enter the rate of return you used for your first calculation, or enter a different rate of return if you wish.
Finally, click on Re-calculate. The result of this final calculation will be an estimate of how much your account balance will be when you finally withdraw your money from the TSP (for this example, in 15 years). You would, of course, use your own number of years and expected rates of return.
3. Can I adjust the calculations to take into account annual pay adjustments, step increases, and promotions?
Regarding annual pay adjustments — Because the calculator holds your salary constant when it projects growth of future contributions to your account, it keeps the results lower than they would be if every year's potential pay increase were included in the estimates. You can try out higher salaries with the calculator, based on your expectations. Or you can assume that your annual salary increases will approximately match annual inflation, so the result you get from the calculator will be the final value of your account in today's dollars.
Regarding step increases and promotions — There is no practical way to build an anticipated career path into the calculation. Each person's work history will be different. However, each time you receive a step or grade increase, you can revisit the calculator and enter your new salary to estimate the growth of your future contributions. That way, you can update your estimates when your situation changes.
4. Can I use the calculator after I leave Federal service?
After you separate from the Federal service, you should use only the second part of the calculator. It will project growth for the money remaining in your account after you separate. You should leave the first part of the calculator blank because you are no longer making payroll contributions.
5. How do I use the Loan Calculator?
Follow these steps:
On the introduction screen, click on the circle for your employment category — civilian or uniformed services.
Click the Start button.
You will then be taken to the Data Entry screen:
Enter the loan amount you wish borrow within the set limits.
Select the type of loan you wish to apply for.
Select the repayment term of the loan.
Select your pay schedule. The repayment schedule for Uniformed Services employees is calculated based on a monthly pay schedule. You can, if you wish, not choose a pay schedule.
Click the Reset button to clear the data entries and enter new information.
Click the Calculate button.
You will then be taken to the summary screen to view your results.
The summary screen provides estimated loan terms. In order to change the loan terms, click on the Revise button.
6. How do I use the Annuity Calculator?
Follow these steps:
On the Introduction screen, click on the circle for the type of annuity you would like: single life, joint life with spouse, or joint life with other survivor who has an insurable interest in you.
Click the Enter button.
You will then be taken to the data entry screen.
If you selected a single life annuity:
Use the drop-down box to select the age at which you expect the annuity to begin.
Enter your estimated account balance at the time your annuity is purchased.
Choose the type of payments you would like.
Select the features you would like.
Click the Calculate button.
You will then be taken to the estimated results page:
Click the Change options in the above annuity button to return to the data entry screen.
Click the Start over button to return to the annuity introduction page.
If you selected a joint life annuity with spouse:
Click on the drop-down box to select the age at which you expect the annuity to begin.
Click on the next drop-down box to select the age your spouse will be when you begin the annuity.
Enter your estimated account balance at the time your annuity is purchased.
Select a type of payment.
Select your preferred features.
Choose a survivor annuity.
You will then be taken to the estimated results page:
Click the Change options in the above annuity button to return to the data entry screen.
Click the Start over button to return to the annuity introduction page.
If you selected a joint life annuity with other survivor:
Click on the drop-down box to select the age at which you expect the annuity to begin.
Click on the drop-down box to select the age your joint annuitant will be when you begin the annuity.
Select your preferred features.
Choose a survivor annuity.
You will then be taken to the estimated results page:
Click the Change options in the above annuity button to return to the data entry screen.
Click the Start over button to return to the annuity introduction page.
7. How do I use the Elective Deferral Calculator?
Follow these steps:
On the Introduction screen, choose the year that your contribution election will become effective.
Click the Start button.
You will then be taken to the Data Entry screen:
Enter the dollar amount of your contribution(s) that will be made to the TSP before the new contribution begins.
Click on the drop-down box to select the number of salary payments you will receive in the year during which your new contribution election will be deducted.
Click the Reset button to clear the data entries and enter new information.
Click the Calculate button to view your results.
You will then be taken to the summary screen:
Click the Revise button to return to the Introduction screen.