Thrift Savings Plan (TSP) is a retirement savings and investment plan for employees of the U.S. Government. Members of the Armed Services, including retirement-eligible Army National Guard (ARNG) Soldiers in any pay status, are entitled to participate in TSP. The plan allows Soldiers to invest a portion of their pay in special retirement accounts administered by the Federal Retirement Thrift Investment Board. TSP offers the same type of savings and tax benefits that private corporations offer their employees through a 401K plan, and the money saved comes from pre-tax dollars, which reduces a Soldier’s taxable income.

Soldiers are eligible for this benefit as soon as they join the service, though participation in the TSP is optional. To start contributing to the TSP, ARNG Soldiers can sign up through the MyPay website or by completing the TSP Election Form. In their contribution election, Soldiers will outline the percentage of basic pay, incentive pay, special pay, and bonus pay that they would like to contribute. Individuals can choose from a variety of investment options, and may change allocations or transfer funds at any time. Soldiers are eligible, but not required, to withdraw from the TSP account as soon as they separate from the uniformed services.