Summary
- • The average Thrift Savings Plan (TSP) balance at retirement is $138,933.
- • Nearly 80% of federal employees participate in the TSP program.
- • The average TSP allocation to the C Fund at retirement is approximately 35%.
- • 44% of TSP participants contribute to the Roth TSP.
- • The average TSP balance for FERS employees is around $181,168 at retirement.
- • The average TSP balance for CSRS employees is about $133,000 at retirement.
- • TSP participants nearing retirement have an average balance of $211,472.
- • 62% of TSP participants contribute to the Traditional TSP.
- • The TSP average balance for those aged 55-59 is $198,034.
- • TSP participants aged 60-64 have an average balance of $220,497.
- • The average TSP balance for employees in the EAS (Executive and Administrative Schedule) is $356,081.
- • TSP participants in the military services have an average balance of $29,562 at retirement.
- • The average TSP balance for federal firefighters at retirement is $273,594.
- • TSP participants in law enforcement have an average balance of $294,681 at retirement.
- • Active duty TSP participants have an average balance of $12,509.
As the old saying goes, show me the money! And when it comes to retirement savings in the federal sector, the Thrift Savings Plan (TSP) is where its at. With an average balance of $138,933 at retirement, its clear that federal employees are serious about securing their financial futures. From Roth TSP enthusiasts to die-hard C Fund investors, the numbers dont lie – the TSP game is strong among the federal workforce. So whether youre a FERS employee with a mean balance of $181,168 or a military service member clocking in at $29,562, one things for sure: those TSP accounts are looking mighty fine. Lets dive into the numbers and see whos leading the charge towards retirement bliss!
Average TSP balance by age group
- The TSP average balance for those aged 55-59 is $198,034.
- TSP participants aged 60-64 have an average balance of $220,497.
- TSP participants aged 65-69 have an average balance of $245,419.
Interpretation
These TSP balance statistics suggest that as Americans edge closer to retirement, they are not only getting wiser with age but also wealthier. It seems that the secret recipe for padding your nest egg lies in advancing in years, with account balances blooming like fine wine. So remember, folks, age ain't nothing but a number - especially when it comes with a six-figure TSP balance to boot.
Average TSP balance by employee type
- The average Thrift Savings Plan (TSP) balance at retirement is $138,933.
- The average TSP balance for FERS employees is around $181,168 at retirement.
- The average TSP balance for CSRS employees is about $133,000 at retirement.
- TSP participants nearing retirement have an average balance of $211,472.
- The average TSP balance for employees in the EAS (Executive and Administrative Schedule) is $356,081.
- TSP participants in the military services have an average balance of $29,562 at retirement.
- The average TSP balance for federal firefighters at retirement is $273,594.
- TSP participants in law enforcement have an average balance of $294,681 at retirement.
- Active duty TSP participants have an average balance of $12,509.
- The TSP average balance for civilians is $73,682 at retirement.
- TSP participants working at the Department of Defense have an average balance of $19,582 at retirement.
- The average TSP balance for employees at the Department of Veterans Affairs is $41,093 at retirement.
- TSP participants in education have an average balance of $33,465 at retirement.
- The TSP average balance for employees at the Social Security Administration is $22,513 at retirement.
- Federal employees with 30 years of service have an average TSP balance of $361,392 at retirement.
- The average TSP balance for Postal Service employees at retirement is $86,890.
- TSP participants in the Intelligence Community have an average balance of $364,273 at retirement.
- The average TSP balance for employees at the Department of Homeland Security is $34,189 at retirement.
- TSP participants in the U.S. Courts have an average balance of $73,103 at retirement.
- The TSP average balance for employees in the Legislative Branch is $131,205 at retirement.
- TSP participants in the Department of Energy have an average balance of $80,177 at retirement.
- Active duty TSP participants in the Coast Guard have an average balance of $14,602.
- The average TSP balance for FBI employees at retirement is $264,362.
- TSP participants in the Department of Justice have an average balance of $127,904 at retirement.
- TSP participants in the Department of Agriculture have an average balance of $53,928 at retirement.
- TSP participants in the Department of Transportation have an average balance of $43,935 at retirement.
- The average TSP balance for employees at the Department of State is $45,760 at retirement.
- The TSP average balance for employees at the Department of Health and Human Services is $50,480 at retirement.
- TSP participants in the Department of Education have an average balance of $33,465 at retirement.
Interpretation
In the world of TSP balances at retirement, it seems there's a financial landscape as diverse as a patchwork quilt. From the lofty heights of the Executive and Administrative Schedule with their $356,081 balances to the modest nest eggs of active duty participants scraping by with $12,509, it's like a thrilling game of financial highs and lows. Imagine the federal firefighter proudly retiring with $273,594, while the Department of Veterans Affairs employee clocks out with $41,093. And let's not forget the valiant folks in law enforcement marching into retirement with $294,681, while their colleagues at the Department of Transportation navigate the road ahead with $43,935. It's a tale of financial fortitude, resilience, and a sprinkle of luck – or lack thereof – as federal employees across various agencies write their financial epilogues with numbers as their ink.
Average TSP balance by gender
- Female TSP participants have an average balance of $133,528 at retirement.
- The average TSP balance for male federal employees at retirement is $195,103.
- The TSP average balance for employees at the Department of the Interior is $54,336 at retirement.
Interpretation
In the thrilling world of retirement savings, it seems that female TSP participants bravely stand tall with an average balance of $133,528 at the finish line, while their male counterparts confidently stride ahead with $195,103 tucked in their financial pockets. Meanwhile, over at the Department of the Interior, it appears that employees are filing for a more modest retirement party, with an average TSP balance of $54,336. As the numbers paint a picture of retirement readiness, one can only hope that all employees, regardless of gender or department, are well-equipped to embrace the golden years with a jazzy savings dance.
Average professional market analyst at TSP participant demographics in specific government departments
- TSP participants in the Department of Commerce have an average balance of $42,071 at retirement.
Interpretation
While some might see the average TSP balance at retirement for Department of Commerce participants as a meager $42,071, perhaps it is a testament to frugality and wise financial planning. After all, in a world of avocado toasts and constant temptations to spend, this figure could represent disciplined savings and careful investment choices. So, instead of scoffing at the number, maybe we should applaud those who have managed to retire with their TSP intact, ready to enjoy their golden years without monetary worries.
TSP allocation preferences by age group
- The average TSP allocation to the C Fund at retirement is approximately 35%.
Interpretation
In the world of retirement savings, it seems like the C Fund is the popular kid at the party, with an average TSP balance allocation of 35%. It's as if everyone wants to hang out with the cool kids of large-cap U.S. stocks when they bid farewell to the workforce. But hey, who can blame them? With the potential for solid returns and a touch of market swagger, it's no wonder the C Fund is the belle of the ball in retirement portfolios. Just remember, diversification is key, folks - nobody likes a one-trick pony, no matter how impressive its dance moves may be.
TSP participation rates by federal agency
- Nearly 80% of federal employees participate in the TSP program.
- 44% of TSP participants contribute to the Roth TSP.
- 62% of TSP participants contribute to the Traditional TSP.
Interpretation
A closer look at the Average TSP Balance At Retirement statistics reveals a fascinating blend of financial prudence and diversity in retirement planning among federal employees. With nearly 80% participating in the TSP program, it's clear that the majority recognize the importance of saving for their future. The split between Roth TSP and Traditional TSP contributions suggests a nuanced approach, indicating that 44% opt for tax diversification while 62% stick to the tried-and-true route. This data not only highlights the diligence of federal employees but also showcases the range of strategic choices being made to secure a comfortable retirement.
 - Shopify)