If you’re a member of the Thrift Savings Plan (TSP), you might be wondering if there’s a mobile app available to help you manage your retirement savings. The good news is that yes, TSP does have a mobile app that allows you to access your account information on-the-go.
What is TSP?
Before we dive into the specifics of the TSP mobile app, let’s first talk about what TSP is. TSP is a retirement savings plan for federal employees and members of the uniformed services. It offers similar benefits to 401(k) plans in the private sector, allowing participants to save for retirement with tax-deferred contributions.
What Can You Do with the TSP Mobile App?
Now that we know what TSP is, let’s take a look at what you can do with the mobile app. The TSP app is available for both iOS and Android devices and can be downloaded from the App Store or Google Play.
Once you’ve downloaded the app and logged in to your account, you’ll be able to do the following:
- View your account balance
- Monitor your fund performance
- Change your contribution amount
- Transfer funds between investment options
- Borrow money from your account (if eligible)
- Request an in-service withdrawal (if eligible)
Is It Secure?
One of the most important things to consider when using any financial app is security. You’ll be pleased to know that the TSP mobile app uses two-factor authentication to ensure that only authorized users can access their accounts.
Additionally, all data transmitted between your device and the TSP servers is encrypted using industry-standard SSL encryption.
The Bottom Line
In conclusion, if you’re a TSP participant, the mobile app is a great way to stay on top of your retirement savings while on-the-go. With features like fund performance monitoring and contribution changes, it’s never been easier to manage your TSP account.
So go ahead and download the TSP mobile app today to start taking advantage of all the benefits it has to offer!