Thrift Savings Account (TSP) Retirement Calculator
Project your Thrift Savings Plan balance with the FERS automatic and matching contributions and the 2026 limits, and estimate a CalPERS pension from your service years, age and final compensation.
Thrift savings account (TSP) retirement calculator
California public employees retirement system (CalPERS) pension: 2% at 62
TSP retirement calculator: how the Thrift Savings Plan works
The Thrift Savings Plan is the federal government's 401(k): a thrift savings account for federal employees and the uniformed services. Under FERS, the agency puts in 1% automatically and matches your contributions: 100% of the first 3% of pay and 50% of the next 2%, so contributing 5% gets the full 4% match, 10% of pay in total. The 2026 limit is $24,500, plus $8,000 catch-up at 50+ ($11,250 at ages 60 to 63).
Example: a 40-year-old on $85,000 contributing 5% ($4,250) gets $4,250 from the agency. With $60,000 already saved, 6% returns and 2% raises, the account reaches about $653,000 at 62.
TSP growth calculator: the funds
| Fund | Invests in |
|---|---|
| G Fund | Special government securities; can't lose principal |
| F Fund | US investment-grade bonds |
| C Fund | S&P 500 large US companies |
| S Fund | US small and mid-size companies |
| I Fund | International stocks |
| L Funds | Target-date mixes of the five |
Pick a return that matches your mix; historically stock funds have returned more over long periods, with bigger swings. TSP savings can be traditional (pre-tax) or Roth.
Thrift savings plan retirement calculator plus FERS pension
FERS employees also get a basic annuity (see the FERS retirement calculator) and Social Security; the TSP is the third leg.
CalPERS (PERS California) pension formula
California public employees retirement system pensions are years of service × benefit factor × final compensation. For new members since 2013 under PEPRA's 2% at 62 formula, the factor is 1.0% at 52 rising 0.1 point a year to 2.0% at 62 and 2.5% at 67 or older (in quarter-year steps). 25 years × 2.0% × $90,000 = $45,000 a year. Classic members hired earlier may have 2% at 55 or other formulas; check your CalPERS statement. A teacher retirement system such as CalSTRS uses a similar years × factor × final compensation formula with its own factors.
Common questions
How much does the TSP match?
1% automatic plus 100% of the first 3% and 50% of the next 2% you contribute: 5% in gets 5% from the agency.
What is the 2026 TSP contribution limit?
$24,500, plus $8,000 catch-up at 50+ or $11,250 at ages 60 to 63.
How much will my TSP be worth?
$60,000 now plus 5% of an $85,000 salary with the full match, 6% returns, for 22 years reaches about $653,000.
How is a CalPERS pension calculated?
Service years × benefit factor × final compensation. 25 years at 2% of $90,000 is $45,000 a year.
What is 2% at 62?
The PEPRA formula: 2% of final pay per year of service at 62, from 1% at 52 to 2.5% at 67.
Sources
- TSP: Contribution types and agency matching
- CalPERS: Benefit factor charts (2% at 62)
- IRS: 2026 retirement plan limits
Related
General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.