TSP Calculator
The Thrift Savings Plan (TSP) is the retirement savings plan for federal employees and uniformed service members, and it is widely considered one of the best retirement plans available because of its ultra-low fees and a generous agency match that amounts to free money. The government automatically contributes 1% of your salary and matches your contributions up to 5% of your salary total, so contributing at least 5% captures every matching dollar — an immediate 100% return on the portion you contribute to get the full match. This calculator projects your TSP balance based on your current balance, annual salary, contribution percentage, the agency match percentage, your expected return, and the years to retirement. Enter your current balance, annual salary, contribution rate, agency match rate, expected return, and years to retirement, and the calculator returns your projected balance, total contributions, and growth. The TSP's expense ratios are among the lowest available — often under 0.05% — which means more of your returns compound for you rather than being consumed by fees, a meaningful advantage over decades. The plan offers several investment funds: the L (Lifecycle) funds are diversified, age-based portfolios that automatically shift toward conservatism as you approach retirement, while the C, S, and I funds cover U.S. large-cap, small-cap, and international stocks and the G and F funds cover bonds. Many investors use an L fund for simplicity or a simple C/S mix for a low-cost stock allocation. You can contribute to both a TSP and an IRA, subject to each plan's limits, and many federal employees max out the TSP match first, then fund an IRA. Use this calculator to confirm you're capturing the full 5% match, project your low-fee growth, and see how increasing your contribution rate compounds into a larger balance by retirement.
TSP Calculator
Project your Thrift Savings Plan balance including the federal agency match.
Projected TSP balance
$1,132,071
After 25 years
Your annual contribution
$8,500
10% of salary
Agency match
$4,250
5.0% of salary
Investment growth
$753,321
The TSP is the federal government's retirement savings plan. The agency match is free money — aim to contribute at least 5% to capture the full match, then increase your rate over time.
How to Use This Calculator
- 1Enter your current TSP balance.
- 2Enter your annual salary.
- 3Enter your contribution percentage.
- 4Enter the agency match percentage.
- 5Enter your expected return and years to retirement.
Why It Helps
- ✓Built for federal employees and service members.
- ✓Includes the valuable agency match.
- ✓Projects low-fee, tax-deferred growth.
- ✓Encourages capturing the full 5% match.
About This Calculator
The Thrift Savings Plan (TSP) is the retirement savings plan for federal employees and uniformed service members, and it is widely considered one of the best retirement plans available because of its ultra-low fees and a generous agency match that amounts to free money. The government automatically contributes 1% of your salary and matches your contributions up to 5% of your salary total, so contributing at least 5% captures every matching dollar — an immediate 100% return on the portion you contribute to get the full match. This calculator projects your TSP balance based on your current balance, annual salary, contribution percentage, the agency match percentage, your expected return, and the years to retirement. Enter your current balance, annual salary, contribution rate, agency match rate, expected return, and years to retirement, and the calculator returns your projected balance, total contributions, and growth. The TSP's expense ratios are among the lowest available — often under 0.05% — which means more of your returns compound for you rather than being consumed by fees, a meaningful advantage over decades. The plan offers several investment funds: the L (Lifecycle) funds are diversified, age-based portfolios that automatically shift toward conservatism as you approach retirement, while the C, S, and I funds cover U.S. large-cap, small-cap, and international stocks and the G and F funds cover bonds. Many investors use an L fund for simplicity or a simple C/S mix for a low-cost stock allocation. You can contribute to both a TSP and an IRA, subject to each plan's limits, and many federal employees max out the TSP match first, then fund an IRA. Use this calculator to confirm you're capturing the full 5% match, project your low-fee growth, and see how increasing your contribution rate compounds into a larger balance by retirement.
Disclaimer: This calculator provides estimates for educational purposes only and does not constitute financial, tax, or investment advice. Results depend on assumptions that may not reflect your actual situation.
Frequently Asked Questions
How much should I contribute to my TSP?
At least 5% of your salary to capture the full agency match. Beyond that, increase your rate as your income allows — the TSP's low fees make it an excellent core retirement account.
How does the agency match work?
The government automatically contributes 1% of your salary and matches your contributions up to 5% total. Contribute at least 5% to get every matching dollar.
Which TSP funds should I choose?
The L (Lifecycle) funds offer diversified, age-based portfolios. The C, S, and I funds cover U.S. and international stocks. Many investors use an L fund or a simple C/S mix.
Are TSP fees really that low?
Yes — TSP expense ratios are among the lowest available, often under 0.05%, making it one of the most efficient retirement plans anywhere.
Can I have a TSP and an IRA?
Yes. You can contribute to both, subject to each plan's limits. Many federal employees max out the TSP match first, then fund an IRA.
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Written by
James MitchellSenior Financial Analyst & Personal Finance Expert
Certified Financial Planner (CFP) • MBA in Finance, University of Chicago Booth School of Business