The Thrift Savings Plan will use a two-year transition period to conform to new IRS guidance regarding how some federal employees can make catch-up contributions to their TSP account more…
Thrift Savings Plan (TSP)
TSP Participants Can Now Manage Installment Payments Online
Stopping existing installments and requesting new installments can now be done in the My Account section of the Thrift Savings Plan’s website more…
Participants Sue Thrift Savings Plan for Processing Delays
The class action lawsuit filed last week alleges that the system failed to disburse loan proceeds, send hardship withdrawals, and process death benefits to beneficiaries more…
TSP Required Minimum Distributions (RMDs)
Ed Zurndorfer provides a detailed outline of the required minimum distributions (withdrawals) for the Thrift Savings Plan including the required beginning dates under current law, how RMDs apply to the different TSP withdrawal options, and RMDs for TSP beneficiaries. Several practical examples are also included. more…
Understanding TSP Rollover Rules
Ed Zurndorfer discusses the rollover option of a separated Thrift Savings Plan participant’s TSP account to an IRA or to an eligible employer-sponsored retirement plan – including a 401(k) plan, a profit-sharing plan, a 403(b) tax-sheltered annuity or an eligible 457(b) plan maintained by a government employer more…
Special Considerations for TSP Distributions
Ed Zurndorfer discusses some special considerations for a separated Thrift Savings Plan participant’s distributions from their account including vesting requirements, the TSP mutual fund window, spousal rights, and required minimum distributions (RMDs) more…
Bipartisan Senators Reintroduce Legislation to Keep Chinese Firms Out of Thrift Savings Plan
If passed, the Taxpayers and Savers Protection Act would ban the Federal Retirement Thrift Investment Board from steering federal retirement savings to China and other countries of concern more…
Using the TSP to Fund a Roth IRA
Ed Zurndorfer discusses how a Thrift Savings Plan account can be used to fund a Roth IRA — specifically, the tax-free direct rollover of a portion of a traditional TSP account to a traditional IRA, which in turn is converted to a Roth IRA (a taxable event) more…
Thrift Savings Plan ‘My Account’ Dashboard to Get New Features
The new layout will allow TSP participants to easily view their account balance, rate of return, and year-to-date contributions. Secure mailbox notifications and a personalized to-do list will also be added more…
Using a TSP Life Annuity
Ed Zurndorfer discusses the TSP withdrawal method of a life annuity including how to purchase it, the various options, features available for beneficiaries, and some important reminders when choosing this method. more…