The Rise of TSP Millionaires Continues to Climb in 2025

Number of TSP Millionaires Continues to Climb in 2025

‍

The number of so-called TSP millionaires is on the rise. As of June, more than 171,000 participants in the Thrift Savings Plan have accounts totalling over $1 million. That’s a little over 2% of all TSP accounts across the board. It also means roughly 24,000 more federal employees have crossed the million-dollar threshold in the last three months. Most TSP millionaires have spent decades investing in their accounts.

(TSP millionaires report – Federal Retirement Thrift Investment Board)

‍

CIA appoints new executive director

‍

The CIA has named a new top official. Dustin Gard-Weiss is now serving as Executive Director of the agency. He previously served at the Pentagon, performing the duties of the Undersecretary of Defense for Intelligence and Security. Gard-Weiss is a seasoned intelligence official with multiple roles under his belt from the Office of the Director of National Intelligence. The CIA said this role replaces the previous Chief Operating Officer position.

(CIA announces Dustin Gard-Weiss as executive director – CIA)

‍

Service members may get 3.8% pay raise in 2026

‍

A 3.8% across-the-board pay raise for service members is gaining traction. The Senate Armed Services Committee has approved its draft of the FY2026 defence policy bill, while the House committee plans to debate its version next week.

‍

Both versions support the same pay increase. The legislation also directs the Defense Department to improve transparency in pay statements, create a military compensation table, and run an education campaign to help military families understand their benefits. Additionally, the Senate bill would require the Pentagon to publicly explain how Basic Allowance for Housing (BAH) is calculated and what housing types it covers.

(Troops could see 3.8% pay raise in 2026 Senate Armed Services Committee)

‍

Former PMFs urge Congress to revive leadership programme

‍

More than 500 alumni of the Presidential Management Fellows (PMF) programme are pushing Congress to reinstate the federal leadership pipeline. The group submitted a letter on Friday calling for the passage of the TALENTS Act, a bill introduced in May to restore and codify the nearly 50-year-old programme.

‍

The push follows the programme’s elimination under an executive order from President Trump in February. Alumni from decades of PMF classes are backing the revival.

(More than 500 former PMFs urge revival of federal leadership program – Federal News Network)

‍

Advocacy groups warn of staffing cuts at Interior Department

‍

The National Parks Conservation Association (NPCA), Public Employees for Environmental Responsibility (PEER), and two other advocacy groups are raising the alarm on potential further staffing cuts at the Interior Department.

‍

They say new data shows that reductions will affect visitor services, maintenance timelines, and wildfire response. These warnings come after the Supreme Court lifted an injunction blocking cuts proposed by the Trump administration. The Park Service has already lost 24% of its permanent workforce since Trump took office adding to a cumulative 20% staff reduction since 2010.

(NPCA, PEER, others warn against further cuts at Interior – National Parks Conservation Association)

‍

‍

Senate defence bill incorporates acquisition reforms from FORGED Act

‍

The Senate Armed Services Committee’s version of the FY2026 National Defense Authorization Act includes key reforms from the Fostering Reform and Government Efficiency in Defense (FORGED) Act, introduced by Sen.

‍

Roger Wicker (R-Miss.). The bill expands the definition of nontraditional defense contractors, now including firms without reimbursed R&D or proposal costs. These companies would be treated as commercial vendors by default and be exempt from certain government acquisition rules.

(Senate defense bill adopts parts of FORGED Act to overhaul Pentagon acquisition Federal News Network)

‍

Senator raises concerns over ICE funding transfers

‍

Sen. Chris Murphy (D-Conn.) is objecting to the Department of Homeland Security’s (DHS) recent request to transfer $430 million, including over $200 million to Immigration and Customs Enforcement (ICE). In a July 11 letter, Murphy argued the move undermines other key programmes, such as those under the Federal Emergency Management Agency (FEMA).

‍

According to Murphy, DHS has already shifted $524 million to ICE during FY2025, even after ICE received additional funding in the tax and reconciliation bill.

(Murphy objects to transfer of DHS funds – Sen. Chris Murphy (D-Conn.))

‍

NSF names Clyde Richards as permanent CIO

‍

The National Science Foundation (NSF) has officially named Clyde Richards as its Chief Information Officer, removing the “acting” tag from his title last week. Richards stepped in as acting CIO in March after Terry Carpenter’s retirement. He previously served as Deputy Program Executive Director at the Defense Counterintelligence and Security Agency (DCSA) and has held senior IT roles at the Defense Contract Management Agency and the U.S. Army. Richards now oversees a $204 million FY2025 IT budget, with $104 million allocated to operations and maintenance.

‍

FAQ's

‍

How many TSP millionaires are there?

‍

As of mid-2025, there are over 100,000 TSP millionaires. These are participants whose TSP account balances have reached $1 million or more largely through long-term contributions, consistent investing, and compound growth over decades.

‍

Can you become a millionaire from TSP?

‍

Yes, it’s absolutely possible to become a TSP millionaire. Many federal employees achieve this by:

• Contributing consistently throughout their careers
  
  
• Maximizing agency matching contributions (if under FERS)
  
  
• Investing in growth-oriented funds like the C, S, and I Funds
  
  
• Avoiding early withdrawals and loans
  
  
• Staying invested during market ups and downs
  
  

It typically takes 25–30+ years of disciplined investing and compound growth to reach millionaire status.

‍

What is the highest TSP account balance?

‍

While exact individual account data is not publicly released, unofficial reports and financial forums have noted TSP balances exceeding $6 million. These belong to long-serving, high-earning federal employees who maximized contributions and invested aggressively over decades.

‍

What is the highest TSP contribution?

‍

For 2025, the IRS limits for TSP contributions are:

• $23,000 annual elective deferral limit for regular contributions
  
  
• Additional $7,500 in catch-up contributions for participants aged 50 or older
  
  
• Combined total: $30,500 if eligible for catch-up
  
  

Agency contributions do not count toward these limits, so your actual TSP account can grow much more when matching contributions are included.

‍