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Show 10 Military TSP savings plan enrollments start Oct. 9 by Gerry J. Gilmore American Forces Press S&e ON e starting (Xt. y can choose to contribute a i'rientaiic of th ir pay to the military's thrift savings an J investment pnram as part of building a nest egg for retirement. TheTSH administered by the Federal Retirement Thrift InvestWA.S1 UN( I s St-rv- ment Board, previously has been available only to federal civ,;un employees. Hie fiscal 2001 Floyd D. Spence National I) fense Authorization Act extended TSI' participation to active duty and reserve component members of the Army. Air Force, Marine Corps. Navy and Coast Guard, and uniformed members of the IHiblic Health Service and the National Oceanic and Atmos- pheric Administration. TSP is separate from and in addition to the military retirement system, which is based on years of service and rank. The first enrollment window for persons w ho entered military service on or before Dec. 8, 2001. is from Oct. 9. 2001, to Jan. 31, 2002. Persons who enroll during this period will see TSP contributions deducted each month from their pay starting in January 2002. Persons who join the uniformed services after Dec. H, 2001. w ill have W) days after entering service to enroll in the TSP After the social first enrollment period, service members may use two "open seasons" each year to join, quit or change the amount of their contributions. Currently, these periods are May Service members can contribute as little as 1 percent of their 15 -- July 31 and Nov. 15 -- Jan. 31. base pay per pay period, up to the 7 percent limit in 2002. The Military members enroll in TSP by completing a TSP election limit increases by 1 percent per year until 2005. after which conform and submitting it through their local service branch finance tributions will be limited by Internal Revenue Code guidelines. office. Enrollment forms are available for download on the TSP Members may also elect to contribute any amount of incenWeb site, http: www.tsp.gov, or can be obtained at local mili- tive pay or special pay, to include bonus pay. tary finance offices. Participants can invest any whole percentage like civilian workers covered by the old Civil Service Retireof up to 7 percent of their base pay in any or all of five TSP fund s: ment System, service members generally will not receive TSP The conservative G Fund consists exclusively of investments matching funds from the government. One exception is , in nonmarketable U.S. Treasury securities specially troops in specialties designated critical by their service secreissued to TSP. Since 1991, the fund has earned an annual aver- taries; those receiving matching funds will be obligated to serve a r active duty commitment age of 6.74 percent The F Fund is TSPs bond market index fund. Since 1991, Strict rules apply to service members' withdrawal of funds the fund has earned an annual average of 7.87 percent and from TSP accounts before they retire. Federal and state income 1 2.78 taxes on investments and earnings are deferred so long as the percent in the past 12 months ending July 3 1 . U.S. stock index fund. money stays in the TSP account Withdrawals are taxed as ordiThe C Fund isTSPs Since 1991, the fund has earned an annual average of 17.43 pernary income, and early withdrawals are penalized under some cent, but it has reported a 14.3 percent loss in the past 12 months circumstances. ending July 3V. Military members who already have a civilian TSP account, The S Fund isTSPs medium and small company stock index such as past and present federal civilian employees who serve fund. The I Fund is its international stock index fund. Both funds in the National Guard and Reserve, can open an entirely sepatrack record. opened in May, so neither has a long-terrate, second TSP account The Only G Fund investments and earnings are backed by the U.S. booklet "Summary of the Thrift Savings Plan government against loss. TSP participants risk losing some or for the Uniformed Services" and other information on miliall their investments and earnings in the F, C, S and I funds tary participation in TSP can be found on the Web at www.tsp.gov. but the funds' earning potential is unlimited. The booklet requires the free Adobe Acrobat reader to view. short-term- six-yea- large-compan- y 47-pa- Reserve 2 launches new cruise missle B-5- P.ARKSDALK AFB. U. (AFPN) The 93rd Bomb Squadron participated in the Air Force's first operational launch of an AGM-86Block 1A, the newest version of the conventional air launch cruise missile. s The Air Force Reserve Command bomber mission began early Aug. 16 to the Utah Test and Training Range, near Ogden, Utah. The CALCM is an strategic cruise missile that gives the Air Force an economical, rapid resjxinse, worldwide conventional strike capability, making it a choice for additional system upgrades and new mission applications, officials said. "Training with live weapons, especially the magnitude of the cruise missile is a great chance for us to train with real weapons," said Maj. Rob Burgess, mission aircraft commander. "It provides us an opportunity to see how they C Strato-fortres- en-rou- te cost-effecti- Previous Block enhancements include precision strike accuracy, global positioning system and an improved terminal flight profile. "Launching a live missile differs from what we y do on a basis because our simulator doesn't take it to this higher level of training," said Maj. David Lunger, 93rd BS instructor radar navigator. "This kind of training is invaluable." anti-jammi- day-to-da- Officials said this cruise missile launch was the first time a 917th Wing aircraft here participated in the Weapons System Evaluation Program, a program designed to provide support for Air Force positions concerning operational needs, force structure recommendations, material modifications, and requirements for new equipment. Hie WSEP was also the first operational launch of an AGM-86Block 1A; previous launches were tests. C Photo by Sgt. Greg Steele Capt. Dennis Heinz, a navigator with the 93rd Bomb Squadron at Barksdale AFB, La., performs a preflight Block 1A conventional air launch cruise missile. A Inspection on the AGM-86Stratofortress crew from the Air Force Reserve Command unit conducted the first operational launch of the newest CALCM Aug. 16 over the Utah Test and Training Range. C "Everything from weapons buildup through destruction of the target was assessed," Lunger said. "This mission was an outstanding success for Summer Meltdown Savings XD ED'S! 1624 N. Heritage Park Blvd., Layton Sign jCheerleading Upsjl - Nov. I boowall Season ZOO 10351 kLQ C--h " 5 and up n - A&w Jl ., 4'fi. Barber Shop Sew Stripes Patches, Zipper, Etc. Make Name Tape South gate HAFB Walk-in- s Mon.-Frl- .. lurry Fast! Games start Sept. MUSIC MEDIA Only AUTOMOBILE MOTORCYCLE Civilians or Military Choose Your Own Coverage Choose Your Own Deductibles Choose Your Own Payment Plan 120. v MUSIC 'BOOKS PLAV MORE CHOKE. LESS PRICE. EVERY DAY. 9-5:- 30 825-595- 1 c77f s We do flat tops! 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