The High-3 calculator shows your estimated retirement benefits in three different tabs. Current TSP account balance– you can find this information online at the official TSP website.Īfter you have made your choices, click “Continue.”.TSP rate of return after withdrawal– how much you think your account will make each year after you begin to withdraw.Or, you can increase it if you think the market will perform better by the time you withdraw your funds.
You can decrease this percent for a more conservative estimate and a lower future TSP payment. This defaults to a 7% average annual increase. TSP rate of return– how much extra money you think your retirement account will make each year before you start withdrawing from it.However, you can increase or decrease this amount if you plan on deducting more or less money from your monthly pay. TSP contribution rate– how much you contribute to your TSP while you’re serving, as a percentage of your basic pay.The longer you can wait to withdraw, the more money you’ll earn. This defaults to 67, the assumed “Full Retirement Age,” but you can start withdrawing at 59½ years without paying extra income taxes. TSP withdrawal age– how old you’ll be when you decide to start withdrawing money from your TSP account.You can always customize the responses through drop-down menus. Try starting with the suggested common responses. Many of these boxes are pre-filled with the most common responses. For this step, you might not know the answers now.
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