Marine Corps Sgt. Maj. Bryan B. Battaglia delivers a hand salute during his retirement and change of responsibility ceremony on Joint Base Myer-Henderson Hall, Va., Dec. 11, 2015. Petty Officer 2nd Class Dominique A. Pineiro
Military Retirement Update: Welcome to the TSP!
A special report on the overhaul of the military retirement system.
Last year, Congress enacted a major overhaul of the military’s retirement system. The new approach moves away from the 20-year, all-or-nothing pension arrangement that has characterized military retirement. In its place comes a more balanced approach in which new service members begin saving for their own retirement in the Thrift Savings Plan -- and receive matching contributions -- upon entering the military.
Now the process of implementing the new system and educating service members about it is under way. Read all about it in our downloadable special report: Military Retirement Update.