What are TSP vs IRA accounts - What is a TSP vs IRA? 1-800-566-1002 What are the best types of TSP vs IRA accounts and learn how you can avoid the most common mistakes that individuals have made when looking to set up their tsp vs ira. Understanding the TSP and IRA What is TSP? The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. It was established by Congress in the Federal Employees Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. What is IRA? An Individual retirement account (IRA) is a retirement account that allows individuals to save for retirement with tax-free growth or on a tax-deferred basis. There are two types of IRAs: traditional IRA and Roth IRA. A traditional IRA allows for tax-deductible contributions, while Roth IRA contributions are made
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