Plan News was updated on September 13, 2017.

Help for Hurricane Irma victims — (September 13, 2017) The TSP has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricane Irma: As of September 13, 2017, we will treat any Financial Hardship In-Service Withdrawal Request as a qualifying hardship and will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal provided one of the following is true:

  1. Your primary residence or place of employment is located in a covered disaster area and has incurred a loss as a result of Hurricane Irma.
    OR
  2. Your hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and who has incurred a loss as a result of Hurricane Irma.

IN ADDITION, you must also meet all of the following requirements:

  • You must be actively employed as a federal civilian or a member of the uniformed services.
  • You must complete Form TSP-76, Financial Hardship In-Service Withdrawal Request.
  • You must write “Hurricane Irma” at the top of page 1 above the name of the form.
  • You must check the “Personal Casualty Loss” box on page 2, Item 18 of your request form, as the reason for requesting financial hardship.
  • Your request must be received in our office by January 24, 2018 and, in compliance with IRS guidelines, your distribution must occur before January 31, 2018. Any Financial Hardship In-Service Withdrawal Request forms received after January 24, 2018 will be processed as a standard hardship withdrawal, and your TSP contributions will automatically stop for 6 months.

If you want to stop your TSP contributions, complete Form TSP-1, Election Form (Form TSP-U-1 for uniformed services) or use your agency or service’s automated system.

This rule change is not retroactive and all other Form TSP-76 rules apply. Participants may only receive one hardship withdrawal under this change. If you have questions about this change, call the toll-free ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, please call 404-233-4400 (not toll free).

Help for Hurricane Harvey victims — (September 1, 2017) The TSP has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricane Harvey: As of September 1, 2017, we will treat any Financial Hardship In-Service Withdrawal Request as a qualifying hardship and will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal provided one of the following is true:

  1. Your primary residence or place of employment is located in a covered disaster area and has incurred a loss as a result of Hurricane Harvey.
    OR
  2. Your hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and who has incurred a loss as a result of Hurricane Harvey.

IN ADDITION, you must also meet all of the following requirements:

  • You must be actively employed as a federal civilian or a member of the uniformed services.
  • You must complete Form TSP-76, Financial Hardship In-Service Withdrawal Request.
  • You must write “Hurricane Harvey” at the top of page 1 above the name of the form.
  • You must check the “Personal Casualty Loss” box on page 2, Item 18 of your request form, as the reason for requesting financial hardship.
  • Your request must be received in our office by January 24, 2018 and, in compliance with IRS guidelines, your distribution must occur before January 31, 2018. Any Financial Hardship In-Service Withdrawal Request forms received after January 24, 2018 will be processed as a standard hardship withdrawal, and your TSP contributions will automatically stop for 6 months.

If you want to stop your TSP contributions, complete Form TSP-1, Election Form (Form TSP-U-1 for uniformed services) or use your agency or service’s automated system.

This rule change is not retroactive and all other Form TSP-76 rules apply. Participants may only receive one hardship withdrawal under this change. If you have questions about this change, call the toll-free ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, please call 404-233-4400 (not toll free).

You May Now Reset Your TSP Password Online — (August 31, 2017) We’re pleased to announce that you may now reset your password online. If you forget or lose your password, go to the My Account section of tsp.gov, click on “Forgot your password?,” and follow the prompts. If you know your password and want to change it, log into My Account, visit “Profile Settings,” and click on “Change Your Password.” You can also call the ThriftLine at 1-877-968-3778 and press option 3 to speak to a Participant Service Representative.

FRTIB Appoints Executive Director — (August 1, 2017) The Federal Retirement Thrift Investment Board (FRTIB) today announced the selection of Ravindra Deo as its Executive Director. The FRTIB administers the Thrift Savings Plan (TSP). Read the press release to learn more about Mr. Deo.

Second quarter participant statements — (July 12, 2017) Your second quarter 2017 participant statement, covering the period from April 1 through June 30, 2017, is now available in My Account. To receive email updates when new participant statements are available, sign up at “Email Updates” (under Quick Links) on the home page.

Representatives Introduce TSP Withdrawal Options Bill — (June 26, 2017) On June 23, Rep. Elijah E. Cummings and Rep. Mark Meadows introduced a bill, H.R. 3031, to provide more flexibility on TSP participants’ withdrawal options. The bill would eliminate the restriction that participants cannot take partial post-separation withdrawals if they’ve already taken an age-based in-service withdrawal. It would also permit multiple post-separation withdrawals. Additionally, the bill would allow multiple age-based withdrawals while a participant is still working. Participants would also be able to stop monthly payments and elect to purchase an annuity while receiving monthly payments.

Blended Retirement System (BRS) Resources Available — (June 2, 2017) Two new sources of information—a fact sheet and a video—about the new Blended Retirement System (BRS) are now available. The information is meant to help members of the uniformed services who will have fewer than 12 years of service on December 31, 2017 decide whether to opt into BRS or stay with their current system. See the fact sheet Questions and Answers about Opting into the Blended Retirement System (BRS) and the video “Opting into the Blended Retirement System (BRS).”

Senators Introduce Legislation on TSP Withdrawal Options — (April 7, 2017) At the TSP’s request, Senators Rob Portman and Tom Carper introduced a bill, S. 873, which would eliminate current statutory restrictions on participants’ withdrawal options. The bill would eliminate the restriction that participants cannot take partial post-separation withdrawals if they’ve already taken an age-based in-service withdrawal. It would also permit multiple post-separation withdrawals. Additionally, the bill would allow multiple age-based withdrawals while a participant is still working. Participants would also be able to stop monthly payments and elect to purchase an annuity while receiving monthly payments.

Warning: Third-Party Mobile Applications — (November 1, 2016) There are a number of mobile applications that reference the Thrift Savings Plan and may prompt you for your TSP account credentials. These applications are NOT sponsored by the TSP. Providing your TSP account credentials to third-party applications may jeopardize the security of your account. The TSP cannot endorse any information or advice provided by third-party applications.

For more information on keeping your account safe, visit our online Security Center or contact the ThriftLine at 1-877-968-3778.

2017 Contribution Limits — (November 1, 2016) The Internal Revenue Code places specific limits on the amount that you can contribute to employer-sponsored plans like the TSP each year. Limits for 2017 are unchanged from 2016. To learn more, visit “Contribution Limits.”

The TSP is on Facebook — (September 5, 2016) You can find us at fb.com/tsp4gov. Like our page to stay engaged, keep up to date, and learn how to make the most of your TSP account. Don’t forget to share our posts with your federal friends and coworkers.

Tips for Protecting Your Account — (July 19, 2016) As a TSP participant, you should know how to protect your account against various types of fraud. For detailed tips about how you can help safeguard your savings, visit Plan Participation: Protect Your TSP Account.

Stick to Your Plan — (June 24, 2016) Significant movements can occur rapidly in the stock and bond markets. By the time you react to the situation, the market may be moving in the opposite direction, and you could miss out on significant gains. It's a good idea to periodically ask yourself whether your retirement portfolio properly reflects your willingness and ability to take risk. But if you are certain about the amount of risk you can tolerate, try not to let short-term market movements steer you off course. To learn more, visit Investment Strategy: Stick to Your Plan.