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Designating beneficiaries

Do you need to designate a beneficiary? The answer is probably “NO.”

In the event of your death, your TSP account would be distributed this way:

  1. To your spouse
  2. If none, to your child or children equally, and to the descendants of deceased children
  3. If none, to your parents equally or to your surviving parent
  4. If none, to the appointed executor or administrator of your estate
  5. If none, to your next of kin who is entitled to your estate under the laws of the state you lived in at the time of your death

For most people, this is the best option because it accounts for life changes like births, deaths, divorce, or marriage that may happen after you open your account.

If you’d like to make an exception, you may complete Form TSP-3, Designation of Beneficiary. The easiest way to do this is to use the online “wizard,” which you’ll find by logging in here: My Account: Beneficiaries.

Don’t remember whether you’ve submitted a Designation of Beneficiary or you’re not sure who you named as your beneficiaries? Look at your annual statement, check the online wizard, or call the ThriftLine at 1-877-968-3778.