"...On October 1, service members became eligible to take advantage of a Roth version of the Thrift Savings Plan, where money is deducted from taxed income, but becomes tax-free money when it is withdrawn...
While most look at TSP as a roadmap to a comfortable retirement, Weaver said that enrolling in thrift savings, even for one or two enlistments, can pay real dividends.
"They can either leave it in their TSP untouched, move the money around within the funds or leave it in until they are ready to retire," Weaver said. "They can also roll it over into another 401k plan in the private sector if they choose to do that. So, just because service members leave the military, it doesn't mean they are forfeiting their money. Once they contribute their money, the TSP belongs to the participant." ."