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UNCLAS //N07000//
NAVADMIN 048/05
MSGID/GENADMIN/CNO WASHINGTON DC/N1/MAR//
SUBJ/THRIFT SAVING PLAN UPDATE//
GENTEXT/REMARKS/1.  BEGINNING 1 JULY 2005, SAILORS WILL HAVE GREATER
FLEXIBILITY IN INVESTMENT PLANNING UNDER NEW OPTIONS IN THE THRIFT
SAVINGS PLAN.  THESE OPTIONS INCLUDE THE INTRODUCTION OF NEW FUNDS
THAT WILL BE BASED ON ASSET ALLOCATION, THE END OF OPEN SEASONS, AND
THE COMBINATION OF THE UNIFORM AND FEDERAL SERVICE FORMS.
2.  YOUR INVESTMENT MIX - OR ASSET ALLOCATION - IS THE MOST
IMPORTANT FACTOR AFFECTING THE PERFORMANCE OF YOUR THRIFT SAVINGS
PLAN ACCOUNT.  THE THRIFT SAVINGS PLAN WILL OFFER PROFESSIONALLY
MANAGED LIFE CYCLE FUNDS THAT COMBINE INVESTMENTS IN THE FIVE
EXISTING THRIFT SAVINGS PLAN FUNDS THROUGH VARIOUS ASSET
ALLOCATIONS.  ALLOCATIONS WILL BE TAILORED TO DIFFERENT GROUPS OF
PARTICIPANTS ACCORDING TO THEIR TIME HORIZON OR WHEN INDIVIDUALS
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PLAN ON WITHDRAWING THEIR MONEY.  INFORMATION ABOUT THE LIFE CYCLE
FUNDS CAN BE FOUND AT WWW.TSP.GOV, UNDER SPECIAL INTERESTS.
3.  AS A RESULT OF A LAW CHANGE, THRIFT SAVINGS PLAN OPEN SEASONS
WILL BE ELIMINATED, EFFECTIVE 1 JULY 2005; HOWEVER, THERE WILL BE
ONE MORE OPEN SEASON STARTING 15 APRIL THROUGH 30 JUNE 2005 ALLOWING
PARTICIPANTS TO FILE CONTRIBUTION ELECTIONS AT ANY TIME BEGINNING
APRIL 15TH.  BEGINNING 1 JULY 2005, CONTRIBUTION ELECTIONS WILL BE
PROCESSED UNDER NEW RULES REQUIRING ELECTIONS TO BE MADE EFFECTIVE
NO LATER THAN THE FIRST FULL PAY PERIOD AFTER THEY ARE FILED.
4.  THE THRIFT SAVINGS PLAN WILL COMBINE BOTH THE UNIFORM AND
FEDERAL SERVICE FORMS IN JULY 2005.  THE NEW ELECTION FORM (CURRENTLY
TSP-U-1) WILL FEATURE A SLIGHTLY DIFFERENT LOOK.  ENSURE YOU READ
THE FORM THOROUGHLY BEFORE FILLING IN THE APPROPRIATE INFORMATION.
5.  POINTS OF CONTACT:
- QUESTIONS CONCERNING ACTIVE DUTY PAY, CONTACT DEFENSE FINANCE AND
ACCOUNTING SERVICE AT (800)346-3374.
- QUESTIONS CONCERNING RESERVE DUTY PAY, CONTACT DEFENSE FINANCE AND
ACCOUNTING SERVICE AT (800)255-0974.
- QUESTIONS CONCERNING THRIFT SAVINGS PLAN POLICY, CONTACT LCDR
KEVIN BOARDMAN, CNO (N130G) AT (703)614-5636/DSN 224.
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6.  RELEASED BY VADM G. L. HOEWING, N1.//
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