Whether to participate or not in a 529 plan is a less clear decision for an active or retired Military Officer or Senior NCO. You'll want to account for Veteran's Benefits and your state income tax situation as a start.
The TSP is a great benefit available to military officers. Loans from TSP not so much.
Dealing with State income taxes has always been a challenge for military spouses. A new law just made things a bit easier.
The Survivor's Benefit Program (SBP) is an important benefit and should not be dismissed quickly by those retiring from the military. But what many don't know is that whether you're covered by SBP or not will affect your surviving spouse's access to the Federal Long-Term Care Insurance Program (FLTCIP)
The TSP is a great way for military officers to accumulate wealth. It hasn't been quite as good for distribution. New changes set to go into effect in September of 2019 will change that.
While deployed to a qualifying combat zone, Military Officers have the option to participate in the Savings Deposit Program (SDP). If they do, they'll receive 10% interest on an account balance of $10,000 for the duration of their deployment to the combat zone.
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