Thrift Savings Plan

The Thrift Savings Plan (TSP) is a defined contribution retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. By participating in the TSP, Federal employees and uniformed service members can save part of their income for retirement, receive matching agency contributions, and reduce their current taxes.

Additional Information on the Thrift Savings Plan

Read more about the Thrift Savings Plan by visiting the website at www.tsp.gov. You can reach the TSP by telephone on 1-877-968-3778 (toll-free) or submit written correspondence :

Withdrawing money from the Thrift Savings Plan (TSP)

Please visit tsp.gov for information about your many withdrawal options in retirement and the option to keep your money in the TSP. If you choose not to withdraw your funds, in the event of your death the TSP would distribute the funds based on your designated beneficiaries on file. If you have not designated beneficiaries, payment would be made to your survivors according to the following order of precedence required by law:

• Spouse;
• If none of the above, to the child or children equally, with any share due to a deceased child divided equally among that child’s descendants;
• If none of the above, to the parents equally or entirely to the surviving parent;
• If none of the above, to the duly appointed executor or administrator of the estate;
• If none of the above, to the next of kin who is entitled under the laws of the state in which the participant resided at death.