If you've been rehired by the Federal Government, there are a few things you need to know.
- TSP Eligibility
- Automatic Enrollment Refund Requests
- Has your address changed?
- Is your beneficiary designation up to date?
As a rehired FERS or CSRS employee, your participation in the TSP is determined by two factors:
- The length of your break in service
- Whether or not you were a TSP participant prior to your break
If you are a rehired FERS or CSRS employee who had a break in service of 31 or more full calendar days, regardless of whether you were enrolled prior to your break, your agency will automatically enroll you in the TSP. Each pay period, 3% of your basic pay will be deducted from your paycheck and deposited in your TSP account, unless you elect to contribute immediately upon rehire. You can change or stop your contributions at any time after you are rehired. To learn how, visit Starting, Changing, and Stopping Your Contributions. If you are a FERS employee, your Agency Automatic (1%) and Agency Matching Contributions (if you are contributing your own money) will also begin immediately.
If you are a rehired FERS or CSRS employee who had a break in service of less than 31 full calendar days and you were previously contributing to the TSP, your employee contributions and, if you are FERS, your agency contributions, will resume upon rehire. If you were not previously contributing, you can begin at any time by following the instructions in Starting, Changing, and Stopping Your Contributions. Be aware that the TSP automatic enrollment rules do not apply to your situation.
Employee contributions made under the automatic enrollment program may be refunded during the first 90 days of the enrollment period under certain circumstances.
If you are a FERS or CSRS employee who was rehired after a break in service of 31 or more full calendar days, your eligibility for a refund of your contributions depends on whether or not your previous refund period had expired and the length of time since your last automatic enrollment contribution.
If the refund deadline from your prior automatic enrollment period has expired, you will not be eligible to request a refund of your automatic enrollment contributions until one full calendar year (January to December) has passed since your last automatic enrollment contribution. If one full calendar year has passed, you will be issued a new refund deadline date.
If the refund deadline from your prior automatic enrollment period has not expired, you will have up until that date to request your refund.
If you had a break in service of less than 31 full calendar days, be sure to inform your new agency if you have any outstanding TSP loans so your payments can resume.
You must make up, from your own funds, any loan payments you may have missed. Mail a loan payment directly to the TSP along with Form TSP-26, Loan Payment Coupon.
If your break in service was less than 31 full calendar days, you are not eligible to withdraw your TSP account.
If your break in service was 31 or more full calendar days, you were eligible, but not required to withdraw your TSP account. Any withdrawal must have been paid and received while you were still separated from service.
If you began receiving monthly payments from the TSP after you separated, those payments will stop upon rehire. If you are receiving annuity payments, they will continue.
Notify your agency of your address change. Your agency is responsible for maintaining information about you and submitting it to the TSP.
You will not be able to change your address through the TSP website or by calling the ThriftLine as long as you are actively employed.
If you've had any change in your personal situation that warrants changing your beneficiary designation, be sure to complete a new Form TSP-3, Designation of Beneficiary. Remember that the TSP will not honor any other document for the distribution of your TSP account after your death.