Roth TSP

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Zeppelin3

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Does anyone have any idea how to go about (if possible) starting a Roth TSP fund while in school on HPSP? Do you have to be on your 45 day AD period? Can it all be done online/over the phone or do you have to actually go somewhere in person to set it up?

Thanks in advance

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Does anyone have any idea how to go about (if possible) starting a Roth TSP fund while in school on HPSP? Do you have to be on your 45 day AD period? Can it all be done online/over the phone or do you have to actually go somewhere in person to set it up?

Thanks in advance

If this can be done, it'd be amazing!
 
http://www.med.navy.mil/Accessions/Pages/Pay.aspx

Relevant part:
X. Thrift Savings Program (TSP): The TSP is a retirement savings plan for civilians employed by the United States Government and members of the uniformed services. Only active duty pay and bonuses are eligible for the TSP. HPSP/FAP stipend is not eligible for deposit into a TSP account. The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan (TSP). The Web site http://www.tsp.gov has extensive information about this program. All military active duty are eligible to participate in the TSP, which allows active duty members to contribute up to a yearly specific limit of "pre-tax" dollars into the managed funds. HPSP and FAP participants can only open a TSP account when on Annual Training. To establish an account, during an Annual Training period, go to the nearest personnel support detachment (PSD) and have them initiate a TSP account for you. If the PSD cannot input this, please email the signed TSP-U-1 form to [email protected]. Include a cover sheet with a short explanation. DFAS will enter the data.
 
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http://www.med.navy.mil/Accessions/Pages/Pay.aspx

Relevant part:
X. Thrift Savings Program (TSP): The TSP is a retirement savings plan for civilians employed by the United States Government and members of the uniformed services. Only active duty pay and bonuses are eligible for the TSP. HPSP/FAP stipend is not eligible for deposit into a TSP account. The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan (TSP). The Web site http://www.tsp.gov has extensive information about this program. All military active duty are eligible to participate in the TSP, which allows active duty members to contribute up to a yearly specific limit of "pre-tax" dollars into the managed funds. HPSP and FAP participants can only open a TSP account when on Annual Training. To establish an account, during an Annual Training period, go to the nearest personnel support detachment (PSD) and have them initiate a TSP account for you. If the PSD cannot input this, please email the signed TSP-U-1 form to [email protected]. Include a cover sheet with a short explanation. DFAS will enter the data.

So it seems you could open an account only when you are on ADT. Note the stipend is not eligible for this.

My interpretation is that only active duty income/bonuses are eligible for contributions, meaning you couldn't contribute $5000 of savings (non-payroll) to the TSP just like that. As an O-1 during school, if you could even choose to contribute 100% of active duty pay/bonuses, that would at most amount to ~6000-9000 (O-1 pay + variable BAH + BAS for 1.5 months)

Beautiful, thank you!
 
http://www.med.navy.mil/Accessions/Pages/Pay.aspxSo it seems you could open an account only when you are on ADT. Note the stipend is not eligible for this.

My interpretation is that only active duty income/bonuses are eligible for contributions, meaning you couldn't contribute $5000 of savings (non-payroll) to the TSP just like that. As an O-1 during school, if you could even choose to contribute 100% of active duty pay/bonuses, that would at most amount to ~6000-9000 (O-1 pay + variable BAH + BAS for 1.5 months)

I have researched this in the recent past. Technically, what you are suggesting would seem to be correct. However, DFAS does not have a mechanism through the pay system to do this. The way they explain it is that contributions to TSP are essentially an allotment. Allotments of this type are X% from each pay period. The DFAS explained that this is actually calculated at the time the allotment is established and prorated over 26 pay periods by some sort of computer magic that they cannot break into to change for 3 three pay period year. Not to mention those who miss an ADT because they are on LWOP or LWOP, and those who may have to do two ADTs in a fiscal year to "catch up" from the year that they missed. This is further complicated by your status in the IRR. The HPSP population is one of the very few that get any money from the military on a recurring basis (stipend and O-1 pay). When the DFAS system was set up, TSP was not available to any military, and therefor was not a consideration at that time, and it is not cost effective to change the entire system for 5500 people in the IRR.
 
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