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Keep Your Address Current
Once you've separated from Federal service, it's important to let the TSP know where to contact you. For information on updating your address, visit Your Mailing Address.
Is your beneficiary designation up to date?
Make sure that, in the event of your death, your TSP account gets distributed according to your wishes. For more information, visit Beneficiaries.

If you've separated from the Federal Government or the uniformed services and have decided to leave your money in the TSP, there are a few things to keep in mind.


Limitations on Leaving Your Money in the TSP

There are significant benefits to leaving your money in the TSP including very low administrative expenses, multiple investment options, the ability to transfer funds from IRAs or eligible employer plans to your TSP account, and continued tax deferral on traditional contributions and their earnings. However, you should be aware of the TSP rules that apply to you while you are in retirement.

Required Minimum Distribution (RMD) Rules

The Internal Revenue Service (IRS) requires that you receive a certain portion of your account each year based on your life expectancy. We will notify you before your required beginning date and mail you information about the IRS minimum distribution requirements. You can find more detailed information about RMDs by visiting Required Minimum Distributions.

Contributions, Loans, In-Service Withdrawals, and Court Orders

While in retirement from Government service, you can no longer make contributions to your TSP account, take out TSP loans, or request in-service withdrawals. Also, all court orders against your TSP account must be resolved before you can make a withdrawal.

Although you cannot continue to make contributions, you may be able to transfer or roll over funds into your TSP account from an IRA or other eligible employer plan. For more information, visit Rollovers and Transfers Into the TSP.

Your TSP Withdrawal Options

There are three basic methods of withdrawing money from your TSP account as a separated participant:

  • installment payments
    • monthly, quarterly, or annual
    • fixed dollar amount or based on life expectancy
  • single withdrawals
  • annuity purchases

You can use one of these methods or any combination of them that you choose. There is no limit of the number of withdrawals you can take after you retire, though processing times limit you to no more than one every 30 calendar days.

For detailed information on your withdrawal options, specific tax consequences, withdrawal change requests, and special withdrawal considerations, visit Withdrawals After Leaving Federal Service. If you need help determining which TSP withdrawal option might be best for you, visit Withdrawal Strategies.

Changing Your Investment Mix

While in retirement, you can change the proportions of your TSP account balance that are invested in the TSP funds by making interfund transfers (IFTs). However, you will be subject to the IFT rules limiting the number of certain types of transfers allowed each month.

Tax Consequences

When you withdraw your money from the TSP, the tax rules that apply depend on type of money that is included in your withdrawal payment, traditional or Roth. If you have both types of money in your account, you can choose to withdraw traditional money only, Roth money only, or a pro rata mix of the two. “Pro rata” means that your withdrawal will have the same percentages of traditional and Roth as are in your account.

For detailed information about the tax consequences associated with the different types of TSP withdrawal options, visit Withdrawals After Leaving Federal Service.

The tax rules that apply to distributions from the TSP are complex. You may want to consult with a tax advisor before you make any withdrawal decisions.

Early Retirement

If you receive a TSP withdrawal payment before you reach age 59½, in addition to the regular income tax, you may have to pay an early withdrawal penalty tax equal to 10% of any taxable portion of the payment that is not transferred or rolled over. However, if you separate from service during or after the year you reach age 55 (or the year you reach age 50 if you are a public safety employee as defined by section 72(t)(10)(B)(ii) of the Internal Revenue Code), then the 10% early withdrawal penalty tax does not apply.

There are other circumstances in which the 10% early withdrawal penalty does not apply that are not associated with your age at retirement. For more information, read the TSP tax notice "Important Tax Information About Payments from Your TSP Account."

Changing your contributions? Save at least 5% to get your full match.

Don't walk away from free money! If you are a FERS or BRS participant, your agency or service matches your contributions — up to 4% if you contribute 5% each pay period. Furthermore, when you add the Agency/Service Automatic (1%) Contributions to your matching contributions, you'll double your 5% investment instantly.

See how easy it is to complete this form.

Let our online wizard help you with your beneficiary designation. Based on your answers to a series of questions, it will prefill the appropriate sections of your form and help you avoid mistakes that could cause your form to be delayed or rejected.

Are you separated from federal employment?

If you are separated from federal employment, you may change your address online at My Account: Profile Settings. You will need to enter your TSP account number and your web password to make this change. You may also call the ThriftLine to change your address. Active participants must notify your agency or service when you have an address change.

You cannot use this form to change your address. As a current federal employee or service member, you must change your address through your agency or service.

Are you separated from federal employment?

To change your name, you will need to provide documentation to the TSP. See the instructions on the form for documentation requirements.

You cannot use this form to change your name. As a current federal employee or service member, you must change your name through your agency or service.

Thinking of taking a loan? Please watch this first.

  • Log in to My Account and access the online wizard under "TSP Loans" to help you with your loan request.

Automatic Enrollment Refund Request

You must submit this form within 90 days of the date of the first contribution of your automatic enrollment. Has it been less than 90 days since your first contribution?

You are ineligible to receive an automatic enrollment refund. Please call the ThriftLine if you have any questions.

See how easy it is to complete this form.

Let our online wizard help you complete your court order. Based on your answers to a series of questions, it will prefill the appropriate sections of your form and help you avoid mistakes that could cause your form to be delayed or rejected.

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