Finance calculators

TSP Calculator

Updated Sep 11, 2026 By Infinity Calculator
Rate Formulas Sources
Your Profile
Enter age between 18 and 75
Retirement age must be greater than current age
Enter a valid salary
FERS receives agency matching; CSRS does not.
Traditional: pre-tax now, taxed at withdrawal.
Your Contributions
Pay Period Schedule: 26 pay periods per year (biweekly federal standard).
Current TSP Balance
Future Contribution Allocation
Contributions will be allocated proportionally to your current balance breakdown. If you entered a single total, the default blended return is applied.
Default expected returns use each individual fund's average annual return since inception as reported by the TSP through August 2026. L Fund defaults weight those returns by each L Fund's July 2026 target allocation. You can override the blended assumed return below.
Leave blank to use fund-weighted historical returns.

Your TSP Projection At Age 62

Projected Balance At Retirement
$0
Total Your Contributions
$0
Total Agency Match
$0
Total Investment Growth
$0
Starting Balance
$0
Years To Retirement
0
Blended Assumed Return
0%
First-Year Annual Contribution
$0
Balance Growth Over Time
Contribution Sources Breakdown
Year-By-Year Projection
Age Salary Your Contribution Agency Match Growth End Balance

Introduction

The Thrift Savings Plan (TSP) is the retirement savings plan for federal employees and members of the military.7 It works a lot like a 401(k) in the private sector. You put money in from each paycheck, your agency may add a match, and your savings grow over time through investments in TSP funds like the G, F, C, S, I, and Lifecycle (L) funds.

This TSP Calculator helps you see how much money you could have when you retire. Enter your age, salary, contribution rate, and current balance, and the tool builds a year-by-year projection of your TSP growth. It factors in annual raises, IRS contribution limits, catch-up contributions for those 50 and older, enhanced catch-up limits for ages 60 through 63, and FERS agency matching.3 You can also pick your fund allocation to get a blended return estimate built from the TSP funds' average annual returns since inception.

Whether you just started your federal career or you are a few years from retirement, this calculator gives you a clear picture of where your TSP balance is headed so you can make smart decisions about how much to save and how to invest.

How to Use Our TSP Calculator

Enter your personal and salary details below. The calculator will show you how much your Thrift Savings Plan could grow by the time you retire.

Current Age: Enter how old you are right now, between 18 and 75.

Planned Retirement Age: Enter the age you plan to stop working. This must be older than your current age.

Current Annual Salary: Enter your total yearly pay before taxes.

Expected Annual Raise: Enter the percent raise you expect to get each year. A common estimate is 2% to 3%.

Retirement System: Pick FERS or CSRS. FERS employees get agency matching contributions. CSRS employees do not.1

Contribution Type: Pick Traditional or Roth. Traditional contributions are pre-tax now and taxed when you withdraw.6 Roth contributions are taxed now, and qualified withdrawals are tax-free.6

Contribution Basis: Choose whether to enter your TSP contribution as a percent of your salary or as a dollar amount per pay period.

TSP Deferral Percentage / Amount Per Pay Period: Enter how much of your pay you want to put into your TSP each pay period. The calculator uses 26 pay periods per year.

Current TSP Balance: Enter your current TSP account balance as a single total, or switch to the "By Fund" view to enter the balance for each fund separately.

Future Contribution Allocation: Choose "Mirror Current Balance" to split future contributions the same way your current balance is divided. Choose "Custom Allocation" to set your own percentages for each fund. The percentages must add up to 100%.

Override Blended Annual Return: Leave this blank to use the historical average return based on your fund mix. Or enter your own expected return rate if you want to use a different number.

Click Calculate Projection to see your projected TSP balance at retirement, total contributions, agency match, investment growth, a growth chart, and a year-by-year breakdown table.

What Is the Thrift Savings Plan (TSP)?

The Thrift Savings Plan, or TSP, is a retirement savings account for federal employees and members of the military.7 It works a lot like a 401(k) that private companies offer. You put money from your paycheck into the account, and it grows over time through investments. The goal is to build up a large balance you can use when you retire.

How TSP Contributions Work

Each pay period, a portion of your salary goes into your TSP account. You choose how much to contribute, either as a percentage of your pay or a fixed dollar amount. Federal employees under the FERS retirement system get free money from their agency. The agency automatically puts in 1% of your salary and then matches up to 4% more based on what you contribute.1 CSRS employees do not get this match.1

There are two types of contributions. Traditional contributions are taken from your pay before taxes, so you pay less tax now but owe taxes when you withdraw the money in retirement.6 Roth contributions are taken after taxes, so you pay tax now but qualified withdrawals in retirement are tax-free.6 Understanding your tax bracket can help you decide which type makes more sense for your situation.

IRS Contribution Limits

The IRS sets a cap on how much you can put into your TSP each year. For 2026, the base limit is $24,500.3 If you are age 50 or older, you can add an extra $8,000 in catch-up contributions.3 In the years you turn 60, 61, 62 or 63, the catch-up amount is $11,250 instead.3 These limits apply only to your own contributions. The agency match does not count toward the cap.2

TSP Investment Funds

Your TSP money is invested in funds you choose. There are five core funds:

  • G Fund: Government securities. It aims to preserve capital and is rated low risk.5
  • F Fund: Bonds, tracking the Bloomberg U.S. Aggregate Bond Index. Low-medium risk.5
  • C Fund: Tracks the S&P 500 Index of large U.S. companies. Medium risk.5
  • S Fund: Smaller U.S. companies, tracking the Dow Jones U.S. Completion Total Stock Market Index. Medium-high risk.5
  • I Fund: International stocks, tracking the MSCI ACWI IMI ex USA ex China ex Hong Kong Index. High risk.5

There are also Lifecycle (L) Funds that automatically mix the five core funds for you. Each L Fund is designed for a target retirement year.4 As that year gets closer, the fund shifts to safer investments.4 If you do not want to pick your own mix, an L Fund is a simple choice.

Why Starting Early Matters

The longer your money stays invested, the more it can grow through compound interest. Compound interest means your earnings start earning their own returns. Even small contributions made early in your career can grow into large amounts by retirement. Waiting just a few years to start can cost you tens of thousands of dollars in lost growth. The Rule of 72 is a quick way to estimate how long it takes for your money to double at a given return rate.

What This Calculator Does

This TSP calculator estimates how much your account could be worth by the time you retire. You enter your age, salary, contribution rate, current balance, and investment choices. It then projects your balance year by year, showing how much comes from your contributions, agency matching, and investment growth. Use it to test different scenarios and find a savings plan that fits your retirement goals. If you will need to take Required Minimum Distributions from your TSP in retirement, plan ahead so withdrawals do not push you into a higher tax bracket.

Formulas used

IRS Elective Deferral Limit by Age 3
L(a) = \begin{cases} 24500 & a < 50 \\ 24500 + 8000 & 50 \le a < 60 \text{ or } a > 63 \\ 24500 + 11250 & 60 \le a \le 63 \end{cases}
Annual Employee Contribution (Percentage Basis)
C_{\text{you}} = \min\!\left( S \times \frac{p}{100},\; L(a) \right)
FERS Agency Match 1
M = \sum_{k=1}^{n} P_k \times \left[ 1\% + \min(d_k,\,3\%) + 50\% \times \left(\min(d_k,\,5\%) - \min(d_k,\,3\%)\right) \right], \quad d_k = \frac{\text{your contribution in pay period } k}{P_k}
Annual Investment Growth (Mid-Year Approximation)
G_y = B_{y-1} \times r + (C_{\text{you},y} + M_y) \times \frac{r}{2}
End-of-Year Balance
B_y = B_{y-1} + C_{\text{you},y} + M_y + G_y
Salary Progression
S_y = S_0 \times (1 + r_{\text{raise}})^{y}
Blended Return from Fund Allocation
r_{\text{blended}} = \sum_{i=1}^{n} w_i \times r_i \quad \text{where } \sum w_i = 1

Frequently asked questions

What is the FERS agency match and how is it calculated?

If you are in the FERS retirement system, your agency puts in 1% of your salary automatically, even if you contribute nothing.1 On top of that, the agency matches your first 3% dollar for dollar and your next 2% at 50 cents on the dollar.1 So if you contribute at least 5% of your salary, you get the full match of 5% total from your agency.1 CSRS employees do not get any agency match.1

What are the 2025 TSP contribution limits?

For 2025, the base IRS limit was $23,500, and people 50 or older could add $7,500 in catch-up contributions.3 For 2026, the base limit is $24,500 and the catch-up limit is $8,000, so people 50 and older can contribute up to $32,500.3 In the years you turn 60, 61, 62 or 63, the catch-up limit is $11,250 instead.3 That makes the 2026 total $35,750 for those ages. These limits apply only to your own contributions. Agency matching does not count toward the cap.2

What happens if my contributions exceed the IRS annual limit?

If your per-pay-period amount would push your total past the IRS limit, the calculator caps your contributions at the limit for that year. The tool also warns you and shows which pay period you would hit the cap. This matters because agency matching contributions are based on the employee contributions you make each pay period, so a pay period with no contributions gets no match.1 The calculator counts matching only for the pay periods in which you still contribute.

What is the difference between Mirror Current Balance and Custom Allocation?

Mirror Current Balance splits your future contributions the same way your current balance is divided across funds. Custom Allocation lets you set your own percentages for each fund. Your custom percentages must add up to exactly 100%.

What is the difference between Traditional and Roth TSP contributions?

Traditional contributions come out of your pay before taxes. You pay less tax now but owe taxes when you withdraw in retirement.6 Roth contributions come out after taxes. You pay tax now, but qualified withdrawals in retirement are tax-free.6 This calculator projects the balance growth the same way for both types. The difference shows up in how much tax you pay at withdrawal.

What is the enhanced catch-up contribution for ages 60 to 63?

Under a change made in SECURE 2.0, a higher catch-up limit applies in the years you turn 60, 61, 62 or 63.3 For 2026 it is $11,250 instead of the $8,000 that applies at 50 and older.3 That makes your 2026 total limit $35,750 during those years.

Does the agency match count toward the IRS contribution limit?

No. The IRS elective deferral limit only applies to the money you put in.2 The agency's matching contributions do not count toward the annual cap.2 The automatic 1% contribution is paid by your agency and is not taken out of your pay.1

What are Lifecycle L Funds?

Lifecycle funds are pre-mixed portfolios that blend the five core TSP funds for you. Each L Fund targets a specific retirement year.4 As you get closer to that year, the fund automatically shifts from higher risk and reward to lower risk and reward.4 If you do not want to choose your own fund mix, picking the L Fund closest to your retirement year is a simple option.

Why does my projected balance change so much when I adjust the return rate?

Even a small change in the return rate has a big effect over many years because of compound growth. For example, over 20 years, a 7% return produces a much larger balance than a 5% return. The longer your time to retirement, the bigger the impact of the return rate.

What if I contribute a flat dollar amount instead of a percentage?

Switch the Contribution Basis to $ Per Pay Period and enter your amount. The calculator multiplies it by 26 pay periods to get your annual contribution. Note that this amount stays the same each year in the projection, unlike a percentage which grows with your salary.

How much should I contribute to get the full FERS match?

You need to contribute at least 5% of your salary to get the full FERS agency match.1 The agency puts in 1% automatically, matches your first 3% fully, and matches the next 2% at half.1 That gives you 5% from the agency on top of your 5%, for a total of 10% going into your TSP.1

Sources

  1. Contribution Types. Thrift Savings Plan. Accessed September 11, 2026.
  2. Contribution Limits. Thrift Savings Plan. Accessed September 11, 2026.
  3. 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (IR-2025-111). Internal Revenue Service. 2025;IR-2025-111, November 13, 2025. Accessed September 11, 2026.
  4. Lifecycle Funds. Thrift Savings Plan. Accessed September 11, 2026.
  5. Individual Funds. Thrift Savings Plan. Accessed September 11, 2026.
  6. Traditional and Roth TSP contributions. Thrift Savings Plan. Accessed September 11, 2026.
  7. About FRTIB. Federal Retirement Thrift Investment Board. Accessed September 11, 2026.

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