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Today's Focus:

Thrift Savings Plan

SENIOR LEADERS ARE SAYING

"Success depends, in the final analysis, on the fortitude of the Iraqi people and the leaders they choose. Yet, as the United States responsibly draws down its presence, we look for sustained international and regional support that will allow Iraq to take full charge of its own security and rejoin the family of nations."

- Defense Secretary Robert M. Gates, recommending to Iraq’s neighbors to share more intelligence with Iraq, increase mutual border-sharing efforts

Gates: Gulf Nations Support of Iraq Contains Iran

WHAT THEY'RE SAYING

Year of the Noncommissioned Officer

"Teaching and mentoring Soldiers is so important because it sets them up for success in the future. It's just like raising your kids. You want them to grow up having a good knowledge-base they can expand on, so more opportunities will be available to them later on."

- Army National Guard's Sgt. 1st Class Christine Viene believes in military education

Guardsman NCO believes in education

CALENDAR

May 25 - July 4: Season of Remembrance

June 2009:

- National Safety Month

June 13 - July 8: 90th Anniversary Transcontinental Motor Convoy trip from D.C. to San Francisco

June 25: Korean War

June 21- 27: U.S. Army Drill Sergeant of the Year Competition

July 2009:

July 4: Independence Day

2009 Commemorations :

Year of the NCO

Year of the Military Family

100th Anniversary of the Chaplain Assistant

PROFESSIONAL WRITING

Army Professional Writing

TODAY'S FOCUS

Thrift Savings Plan

What is it?

The Thrift Savings Plan (TSP) is a long-term, financial personal investment program intended to improve the well-being of the troops, as well as their quality of life. The Thrift Savings Plan (TSP) is a government-sponsored savings and investment program that offers tax-deferred opportunities similar to the civilian sector's 401 (k) plan. Servicemembers and federal civilians have the opportunity to participate in TSP at any time.

How important is this to the Army?

The Army is urging members of the active-duty, Reserve and National Guard to earn money for their futures. You can contribute any percentage from your basic, incentive, special or bonus pay. If you contribute while in a combat zone, you can avoid paying taxes on the contributions. You will only pay taxes on the earnings upon withdrawal. This program is similar to the civilian world's 401K retirement savings program. You can take your money with you when you leave the service, or leave it in until retirement, or keep it in your TSP account long after you leave the military.

What is the Army doing?

The Army encourages investment in TSP. On June 24, in the Pentagon auditorium, the Federal Retirement Thrift Investment Board will have experts on hand to answer any questions about the TSP. This is beneficial to those who want to know more before deciding to contribute and for those already in the TSP it will provide more information on the features of your TSP account. This seminar is from 11:30 a.m. to 4:30 p.m. and is covered in two parts.

Part I, from 11:30 a.m. until 1:30 p.m., will focus on understanding how to get the most out of contributing to the TSP. Part II, from 1:45 to 4:30 p.m. will cover using your TSP account, either while still active or upon separation or retirement. Military and federal civilians are invited to attend one or both sessions. This is your opportunity to learn about this important savings program from the federal agency responsible for administering the TSP.

Resources:

TSP Web site

A copy of the briefing is available for viewing and download at the: Military Saves Web site

STAND-TO! NEWS

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