Average holdings for both FERS and CSRS participants crossed the 6-figure mark in 2013. Since then, they’ve risen steadily to the mid- and high-100s into the early 2020s.
By the end of 2021, the average FERS account balance was $181,279, and the average CSRS account balance was $196,424.
Here’s the break-out of the average account balances from 2012 to 2021. For most recent figures by month, see this article.
Average TSP account balances drifted into the high $100,000s at the end of 2021.
Average Roth TSP account balances were in the low-five figure range for FERS participants, and they reached about $23,000 among the far fewer CSRS participants, at the end of 2021.
Average TSP account balances for Uniformed Service Members crested over $40,000 by the end of 2021, while balances for new ‘Blended Retirement System’ (BRS) participants reached close to $10,000 in just four years since the BRS became operational.
Apart from employee contributions, TSP participants also receive agency/service matching contributions up to a specific limit to boost their retirement savings. You should contribute a minimum of 5% of your basic pay each pay period; this is the percentage needed to obtain the full agency matching contribution.
Average TSP account balances for Uniformed Service Members crested over $40,000 by the end of 2021, while balances for new 'Blended Retirement System' (BRS) participants reached close to $10,000 in just four years since the BRS became operational.
Getting a match on your contributions is free money! That's why it's important to invest at least enough to get the match. Most TSP participants are on top of it: More than 8 out of 10 (84%) put in at least 5% of their pay to get the full match.
Yes, maxing out your TSP can be very beneficial, but may not be the best thing for your financial future. To begin, let me start by saying that saving money is one of the hardest factors to actually do when it comes to retirement planning.
Introduction: My name is Clemencia Bogisich Ret, I am a super, outstanding, graceful, friendly, vast, comfortable, agreeable person who loves writing and wants to share my knowledge and understanding with you.
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