What is a MYGA annuity?

A Multi-Year Guaranteed Annuity (MYGA) is the annuity equivalent of a CD — it locks in a guaranteed interest rate for a set term (3, 5, 7, or 10 years). Unlike SPIAs, MYGAs accumulate value rather than paying income immediately. They're popular for people who want to protect retirement savings from market risk while earning a guaranteed rate higher than most CDs.

What is the current TSP MetLife annuity interest rate?

The TSP MetLife interest rate is updated monthly and displayed on this page. As of May 2026, the rate is 2.375%. This rate is one factor in calculating your monthly annuity payment — higher rates mean higher monthly payments.

Can I compare TSP annuity vs rolling over to an IRA?

Yes — this is the most important decision federal employees face at retirement. Rolling over to an IRA gives you flexibility but requires disciplined withdrawals (4% rule typically). A TSP annuity provides guaranteed income for life but gives up control and liquidity. Our TSP Rollover Analyzer tool compares these scenarios.

Live TSP & Annuity Rate Tracker — Current Rates May 2026

Q: Are commercial annuities better than TSP annuities?

It depends on the market environment. Commercial SPIAs often pay 5-15% more per month than TSP annuities because they compete across dozens of A-rated insurers. However, TSP annuities offer inflation protection and joint survivor options that some commercial products don't. Use our calculator with your specific balance, age, and gender to see which pays more for your situation.

TSP Fund Performance

Returns for all TSP fund options — G, F, C, S, I, and all L Lifecycle Funds.

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Fund	MTD	YTD	1-Year	3-Year	5-Year
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Source: TSP.gov (thrift savings plan.gov) Rates as of May 2026 Compared to equivalent Vanguard/Fidelity index funds

Current Annuity Rates

Live SPIA, MYGA, and FIA rates from top-rated carriers — updated regularly.

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SPIA Rates — Monthly Income per $100k

Single Premium Immediate Annuity — starts paying income right away. Best for converting a lump sum into guaranteed lifetime income.

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Sources: Blueprint Income, ImmediateAnnuities.com Best available rate from A-rated carriers

MYGA Rates — Guaranteed Accumulation

Multi-Year Guaranteed Annuity — like a CD, but with higher rates and tax-deferred growth. No income payments until you choose to start.

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Best APY from A-rated carriers, no surrender-fee trap

FIA Cap & Participation Rates

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FIA: Fixed Indexed Annuity — S&P 500 linked, no loss of principal

Rate History — MYGA 5-Year vs SPIA (Age 65 Male)

Chart shows 12-month rate trends. MYGA rates accumulate (APY); SPIA shown as monthly income per $100k.

TSP vs Commercial Annuity Calculator

Enter your TSP balance and retirement details to see which option pays more — and by how much.

Your TSP Balance ($)

Age at Retirement ? Pick the age you'd start your annuity. Most federal employees retire between 56–62.

Gender (affects actuarial rates)

Married (joint & survivor) COLA inflation protection

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TSP Annuity (MetLife)

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Best Commercial SPIA

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Lifetime Payout Comparison

By Age	TSP Annuity	Commercial SPIA	Difference

⚠️ Disclaimer: Estimates based on current market rates and TSP actuarial factors published by TSP.gov. Actual payments vary by carrier, health, and market conditions. This is not financial advice — consult a licensed financial advisor before making annuity decisions.

Frequently Asked Questions

How often do TSP annuity rates change? +

TSP annuity rates are set monthly by MetLife, the TSP's annuity provider. The interest rate factor is updated at the beginning of each month and announced on TSP.gov. Rates typically change by 0.1–0.3% per month depending on Treasury yield movements. Higher rates mean higher monthly payments if you elect an annuity that month.

Are commercial annuities better than TSP annuities? +

Often yes — commercial SPIAs frequently pay 5–15% more per month than TSP annuities because they compete across dozens of A-rated insurers. However, TSP annuities offer specific features (COLA, joint survivor, 10-year certain) that some commercial products make more complex. Use our calculator with your specific balance, age, and gender to see the real-dollar difference for your situation.

What is a MYGA and how does it compare to a SPIA? +

A Multi-Year Guaranteed Annuity (MYGA) locks in a guaranteed interest rate for a set term (3, 5, 7, or 10 years) — think CD-equivalent but tax-deferred. A Single Premium Immediate Annuity (SPIA) starts paying income immediately for life. MYGAs are for accumulation; SPIAs are for income. At retirement, many people roll a MYGA into a SPIA after the term ends.

What happens to my TSP if I don't buy an annuity? +

If you don't elect a TSP annuity, your balance stays in TSP or can be rolled over to an IRA. You take withdrawals via RMDs (required minimum distributions) starting at age 73, or set up installment payments. This gives you more flexibility and growth potential, but no lifetime income guarantee. The TSP Rollover Analyzer tool on RetireStack compares these scenarios.

Is the TSP annuity reversible? +

No. Once you elect a TSP annuity, the decision is permanent. MetLife purchases an annuity contract with your balance and begins monthly payments. You cannot change the option, get a lump sum back, or change providers. This is the most important reason to model your options carefully before electing — commercial annuities offer the same lifetime guarantee with more shopping flexibility before you commit.