How SBST Helps Promote TSP Participation

How SBST Helps Promote TSP Participation

By Koga Bag
7th Dec, 2024

How SBST Helps Promote TSP Participation and Educate How To Enroll in the …

 

Key Takeaways

How SBST Helps Promote TSP Participation and Educate How To Enroll in the TSP

The annual report of the federal government’s Social & Behavioral Sciences Team (SBST) shows how they have been helping federal agencies by prodding their employees to enroll in the TSP.  One good example is the DOD and SBST’s email campaign to increase participation in the Thrift Savings Plan.

The email campaign sent approximately 720,000 unenrolled Service members one of nine email versions. The emails were designed using behavioral insights, notifying recipients of the opportunity to enroll in the TSP and about future tsp withdrawal options.

The results? Compared to no message, the most effective message nearly doubled the rate at which Service members signed up for Thrift Savings Plan. Emails informed by behavioral insights led to roughly 4,930 new enrollments and $1.3 million in savings in just the first month after the emails were sent.

After seeing how successful SBST is in motivating federal employees, DOD has scaled up this intervention by sending periodic emails informed by behavioral insights to Service members about the benefits of TSP and how to log into their TSP account.

 

SBST and DOD Yes or No Thrift Savings Plan Pilot

Another pilot program which prompted service-members to make a “Yes” or “No” choice about whether to enroll in the TSP during an orientation briefing upon their arrival at a new military base.

The outcome? More service-members enrolled in the TSP during the prompted choice pilot: 8.7 percent of non-enrolled service-members, compared to 2.9 percent on average at three comparison bases, and 4.3 percent during comparison time periods at the pilot base.

SBST and DOD Roth TSP Reenrollment Campaign

Changes in the military’s retirement savings plans required nearly 140,000 service-members to re-enroll in their Roth TSP to continue making contributions.

SBST and DOD redesigned an email that alerted service-members of the requirement to re-enroll in the TSP. This redesigned email led 22 percent more service-members to re-enroll in the TSP within a week—3,770 more re-enrollments than among the service members sent a standard message.

As a result, DOD has scaled up the successful messaging in subsequent outreach reminding service-members to re-enroll in TSP.

Koga Bag Disclosure:

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).

Thrift Savings Plan ebook, TSP guide ebook, Federal retirement planning ebook, TSP strategies ebook, TSP investment options ebook, Maximize TSP savings ebook, TSP tips ebook, Federal employee benefits ebook, TSP contributions ebook, TSP withdrawals ebook, Military retirement TSP ebook, TSP advice ebook, Government retirement plan ebook, FERS retirement ebook, FEGLI insurance ebook, TSP rollover ebook, TSP tax advantages ebook, TSP account management ebook, Retirement savings plan ebook, TSP resources ebook

Making the Most of Your Thrift Savings Plan (TSP)

Related Post

Related Koga Bag Posts

Default Image
5th Oct
By TSP Admin

TSP Special Withdrawal Considerations – Spouses’ Rights

For most federal employees, a TSP withdrawal after separating from federal service is simply a matter of filling…

Read More
Default Image
10th Oct
By TSP Admin

Retirement Benefits Court Order

When you make a TSP withdrawal request, one of the things that should be considered before approving…

Read More
Default Image
18th Oct
By TSP Admin

TSP Withdrawal Taxes as a Rollover Into a Roth IRA

Before you roll your TSP into a ROTH IRA, you should consider the taxes on a TSP withdrawal…

Read More