Number of TSP Millionaires Goes Up to 76,889 at Close of 2022

How many TSP millionaires are there? The number at the end of 2022 is the lowest end of the calendar year figure since 2020 but still an improvement over earlier this year.

31.9% Drop in TSP Millionaires Since December 2021

As of December 31, 2021, there were 112,880 millionaires in the federal government’s Thrift Savings Plan (TSP). It may be awhile before that number is reached again.

At the end of September 2022, there were only 65,494 TSP millionaires—a drop of 42% in the number of TSP millionaires since 2021. That was the lowest point in some time.

The latest figures show that there are now 76,889 millionaires as of the end of 2022. That is an increase of about 17.4% since the end of September. There has been a drop of about 31.9% in the number of millionaires since December 2021.

How Has Number of TSP Millionaires Grown Over Time?

The first time FedSmith reported on the number of TSP millionaires was in January 2012. At the end of December 2011, there were 208 of these rare birds. The number has increased rapidly since then despite the 2022 drop in numbers. The figure at end end of 2022 was the lowest number of TSP millionaires since December 2020.

Obviously, the drop in the value of stock funds in the TSP is the biggest reason for the drop in the number of millionaires. As of December 2022, the S Fund was down 26% for the year and the C Fund was down 18.13%.

This chart displays how the number has changed over time.

January 2012208
December 20169,599
December 201723,962
December 201821,432
December 201949,620
December 202075,420
June 202198,879
September 202198,523
December 2021112,880
March 2022100,364
June 202272,241
September 202265,494
December 202276,889

In the latest report, there were 6,746,865 participants in the TSP program and TSP assets were over $748 billion. For comparison, in the same period in 2021, there were 6,521,753 TSP participants and the TSP assets were over $811 billion ($811,739 to be exact).

Breakdown of TSP Account Balances and Average Years of Contributions

As one might expect, those that have become TSP millionaires have been investing in the TSP a lot longer. The average years of contributions for those who have achieved millionaire status is 29.58 as of the end of December 2022.

The average number of contributing years for all TSP participants is 10.68.

Account BalanceNumber of Participants
December 30, 2021
Number of Participants
December 30, 2022
Averages Years of Contributions
(December 30, 2022)
< $50,0003,771,2144,212,0926.05
$50k – $249k1,548,6881,648,89015.75
$1 million112,80076,88929.58
TSP millionaires by account balance as of December 31, 2022

Frequently Asked Questions

How many millionaires are in the TSP?

76,889 millionaires are in the TSP as of December 31, 2022.

What are the total assets of the TSP?

As of November 2022, TSP assets were over $748 billion.

About the Author

Ralph Smith has several decades of experience working with federal human resources issues. He has written extensively on a full range of human resources topics in books and newsletters and is a co-founder of two companies and several newsletters on federal human resources. Follow Ralph on Twitter: @RalphSmith47