Armed Forces News

A new open season for the Thrift Savings Plan runs from April 15 until June 30. TSP is a tax-deferred savings option that lowers the taxable income for participants in the 2004 tax year. The limit for contribution for service members is the lower of 9 percent of pay or $13,000 for 2004, a $1,000 increase from 2003. Participants may direct TSP investments to any of the following five funds which vary in risk and investment mixture: government securities investment (G fund); fixed income investment (F fund), common stock index investment (C fund), small capitalization stock index investment (S fund) and international stock index investment (I fund). Members can enroll in TSP online through the myPay Web site at https://mypay.dfas.mil/mypay.aspx, or by completing a TSP enrollment form (TSP-U-1).