Government Matched TSP

2014-03-27T11:15:33-04:00

I know no one is expecting to make it big financially in the military, but how much would it effect the economy as a whole post drawdown, if the Government matched 5% of total annual contributions per person? This is not a real program, just a personal social experiment to understand how people view Federal spending.

Response by CW3 Private RallyPoint Member made Mar 27 at 2014 11:17 AM

2014-03-27T11:17:43-04:00

If the gov matched I would donate the match every month. I've heard rumblings about some changes to retirement and benefits, and this would be a great place to start, to provide a tangible opportunity and benefit for soldiers that don't stay the whole 20.

Response by SFC Private RallyPoint Member made Mar 27 at 2014 2:18 PM

2014-03-27T14:18:31-04:00

I would be ecstatic to have TSP matching. I have heard that DoD civilians get some form of contribution matching for their TSP. I have a feeling that we would have a much higher percentage of Soldiers putting money away for retirement if this were the case! If they do end up changing the retirement system and convert to a 401k style program, I hope that they implement something like this.

Response by SFC Private RallyPoint Member made Mar 27 at 2014 11:58 PM

2014-03-27T23:58:49-04:00

Matching TSP for those not planning to retire is a great idea. It is a tangible benefit for those who are not pursuing the military as a career; however, there is not one retirement benefit that beats the military pension. Immediate payout of pension plans is worth way more than 5-10%. While there is a benefit of civilian life, I am a firm believer that the military's promotion, salary, & benefit package + 20 years is more advantageous than a 100K plus salary annually. Experience, Education, & Supervisory duties evaluated for all commissioned and noncommissioned the package is hands down better. I do argue that the one thing that we don't get paid for is our hardship adequately that no civilian career has our burden; however, ultimately the Military is a profession of civic duty that is not comparable to civilians.