Changes to ROTH Thrift Savings Program take effect

  • Published
  • By Senior Airman Holly Mansfield
  • 81st Training Wing Public Affairs
Starting this month, military members with the Roth Thrift Savings Program will start the re-enrollment process into the new program.

Instead of selecting a dollar amount to contribute, now members must select a percentage to put into their TSP.

"TSP is the military version of a civilian 401(k) program," said Master Sgt. David Rains, 81st Comptroller Squadron financial services flight chief. "The Roth TSP is taxed when you put the money in and lowers your taxable income for each month."

In January, the process of changing information and re-enrolling using the new percentage program began. For members wishing to continue their allotments without interruption, they needed to have completed their re-enrollment by Jan. 31. Members may also re-enroll after this date but will miss their January allotment.

"If a member already has the Roth TSP, they can switch over to the new percentages at any time," said Rains. "If they would like their plan to be uninterrupted then they should have re-enrolled by Jan. 31. If they re-enroll after that date, there will be a lapse in everything because they will be missing the January portion of the TSP. It can look like they are starting brand new, but they really aren't."

To make the change from dollars to percentages, members must log on to their MyPay account and update their information. For questions regarding the new program, visit https://www.tsp.gov/whatsnew/plan/planNews.shtml#dfas.