TSP Calculator

Use this calculator to project a Thrift Savings Plan balance with employee, agency automatic, and agency matching contributions.

What this calculator does

The TSP calculator estimates retirement balance for federal employees and military members. It includes employee contributions, automatic agency contributions, matching contributions, and investment growth.

It uses:

• current age and retirement age
• current TSP balance
• annual basic pay and employee contribution rate
• agency automatic and matching contributions

TSP Formula

FV = P(1 + r)^n + PMT × (((1 + r)^n - 1) / r)

Where:

• P = current TSP balance
• PMT = employee plus agency contributions
• r = expected annual return
• n = years until retirement

Example calculation

If:

• Basic pay = 90,000
• Employee contribution = 5%
• Agency automatic contribution = 1%
• Agency match = 4%

Then:

• Employee contribution = 4,500
• Agency contribution = 4,500
• Total annual contribution = 9,000
• The balance compounds until retirement

The TSP receives employee and agency money.

What is TSP?

The Thrift Savings Plan is a retirement savings plan for federal employees and uniformed service members. It functions similarly to a workplace defined contribution plan.

Why TSP planning matters

• values agency automatic contributions
• shows matching contribution impact
• helps set employee contribution rates
• supports federal retirement planning

When to use this calculator

• projecting TSP balance
• reviewing agency match value
• setting a contribution percentage
• comparing retirement dates

Common mistakes

• contributing below the match level
• forgetting the automatic 1%
• ignoring investment allocation
• assuming pay never changes

TSP vs 401(k)

TSP is for federal employees and service members. A 401(k) is usually a private-sector workplace plan.

Both use employee contributions and may include employer contributions.

FAQs

What is TSP?

TSP is the Thrift Savings Plan for federal employees and military members.

How do you calculate TSP growth?

Project current balance and annual employee plus agency contributions with compound returns.

What is a good TSP contribution?

A good contribution usually captures the full agency match and supports retirement goals.

What is the difference between TSP and 401(k)?

TSP is federal. 401(k) plans are usually private-sector workplace plans.