A tax deferred savings plan available to all eligible Federal employees.
Employees covered by the FERS and CSRS retirement systems may contribute to the TSP.
Participants age 50 or older who are already contributing the maximum amount of regular TSP contributions for which they are eligible are eligible for TSP Catch-up contributions.
TSP deductions can be applied to the following funds:
G - Government Securities; F - Fixed Income Index; C - Common Stock Index; S - Small Capitalization Stock Index; I - International Stock Index Investment Fund; and L - Lifecycle.
TSP-1 changes can be made at anytime and become effective the first full pay period after the paperwork is processed.
Withdrawal options at separation - employee can transfer TSP to an IRA or take a lump sum payment, and retirees can elect an annuity from various options.
Before-tax savings and tax-deferred investment earnings;
Catch-up contributions are supplemental tax-deferred contributions;
Loans from your own contributions and earnings while in the Federal Government;
Portable benefits and a choice of withdrawal options after separation;
A website with TSP information and materials, including a calculator to estimate account growth; and
An automated telephone service for up to date account information and other services.
TSP SCD is used to identify the beginning date of the vesting period for the 1% Government contribution to the Thrift Savings Plan.
CSRS and CSRS-
Offset employees may contribute up to the annual IRS annual elective limits with no agency match.
FERS employees may contribute up to the annual IRS annual elective limits with the agency matching as follows:
first 3% =
$1.00 per $1.00
next 2% =
$.50 per $1.00
Catch-up contributions have their own annual limit ($5,000 in 2007; thereafter, increases will be indexed to inflation).