Travis Texas Employees Savings Thrift Plan

State:
Multi-State
County:
Travis
Control #:
US-CC-22-118E
Format:
Word; 
Rich Text
Instant download

Description

22-118E 22-118E . . . Employee Savings Thrift Plan under which three types of contributions can be made: (a) those permitted under a qualified Cash Or Deferred Arrangement ("CODA") under Section 401(k) of Internal Revenue Code, (b) those made by participating companies matching 40% of CODA contributions, and (c) additional voluntary employee contributions made by participants who elect maximum CODA contribution and wish to save additional amounts out of after-tax dollars

Travis Texas Employees Savings Thrift Plan is a retirement savings plan designed to help employees of the Travis County, Texas government save for their future. This plan is an essential benefit provided by the county to its employees, aimed at helping them achieve financial security during their retirement years. The Travis Texas Employees Savings Thrift Plan enables participants to contribute a portion of their salary on a pre-tax basis, allowing for tax-deferred growth until retirement. These contributions can be invested in a range of investment options, including stocks, bonds, and mutual funds, empowering participants to customize their investment portfolios based on their risk tolerance and long-term financial goals. One key feature of the Travis Texas Employees Savings Thrift Plan is the employer match. The county contributes a certain percentage of the employees' contributions, effectively augmenting their retirement savings. This match serves as an incentive for employees to actively participate in the plan, as it provides an opportunity to amplify their savings over time. Furthermore, the Travis Texas Employees Savings Thrift Plan offers a range of educational resources and tools to help participants make informed investment decisions. These resources include seminars, workshops, and online educational materials that cover various retirement savings topics, such as asset allocation, diversification, and financial planning. In addition to the standard Travis Texas Employees Savings Thrift Plan, there may be variations of the plan available to specific employee groups or departments within the Travis County government. Although the specific names of these variations may vary, they typically share the same core features and objectives of the main plan. Overall, the Travis Texas Employees Savings Thrift Plan provides Travis County employees with a powerful tool to build a solid financial foundation for their retirement. By making consistent contributions and taking advantage of the employer match, participants can maximize their retirement savings potential and work towards a financially secure future.

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FAQ

Though the Thrift Savings Plan can provide you with a source of monthly income after retirement, it is different from the other two income sources that you will likely have (i.e., your FERS annuity and Social Security).

How to Access Your TSP Account Online Go to . If you know your TSP account number, enter it in the blocks on the upper left hand side and press the Log In button.If you do not know your TSP account number, click on the words "forgot your account number or user ID?"

1-877-968-3778.

You can resolve most common account access problems by requesting your account information, updating your validated contact information, or changing the way you receive your one-time passcodes for login.

Retirement Services My Annuity and Benefits The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.

Recover your online user account login Select the link, recover your Online User Account Login. Enter your TSP account number.Select the Submit button. Select how you want to verify your identity.Select the Submit button. Follow the prompts to verify your identity and select the Submit button.

Visit the TSP website and click the link Login. Click the link Forgot username or password. Enter your Social Security number into the appropriate field and click Submit. TSP.gov will send an email to the email address you have on file with your username, 13-digit TSP account number and a link for you to change

Employees contribute to the TSP by payroll deduction. Both the money that is contributed and the interest earned in a TSP account are tax-deferred. The maximum yearly employee contribution to any tax-deferred retirement savings plan is limited by the IRS.

A thrift savings plan (TSP) is a type of retirement investment program open only to federal employees and members of the uniformed services, including the Ready Reserve. It is a defined-contribution plan that offers federal employees many of the same benefits that are available to workers in the private sector.

The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.

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Travis Texas Employees Savings Thrift Plan