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The Thrift Savings Strategy, or TSP, is really a type of defined contribution retirement strategy for workers from the federal government, such as members from the uniformed solutions (Army, Navy, Air Force, Marine Corps, Coast Guard, Public Well being Service, and also the National Oceanic and Atmospheric Administration, such as the Prepared Reserve or National Guard of these solutions.)

They function a lot exactly the same way as 401(k) plans: you are able to opt to divert a part of your salary in to the strategy, and also the cash is automatically deducted out of your paycheck prior to taxes are taken out. The cash grows tax-deferred till it is withdrawn, and after that Uncle Sam comes calling.

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