A thrift savings plan (TSP) hardship withdrawal allows federal employees and members of the uniformed services to access their retirement funds in times of severe financial need. To qualify, ...
WASHINGTON, D.C. - U.S. Senators Rob Portman (R-OH) and Tom Carper (D-RI) introduced legislation today to strengthen Thrift Savings Plan (TSP) retirement accounts by modernizing the overly restrictive ...
A TSP participant is not allowed to take a partial withdrawal once separated from federal service if he or she took an in-service age-based withdrawal. Finally, if a separated employee elects to ...
When you retire under the Federal Employee’s Retirement System (FERS), you may need all three parts of FERS to fully retire. FERS was designed as a three-part retirement system which includes the FERS ...
Editor's note: An earlier version of this article incorrectly said Roth TSP distribution may not be subject to income tax and a 10% penalty under certain circumstances. Tax-free Roth Thrift Savings ...
Mike Zaino, of The Zaino Group, is a Registered Financial Consultant and National Retirement Counselor serving federal and postal employees. Federal employees have access to a valuable retirement ...
The bills, which lack Republican support, also aim to ensure that federal employees have access to TSP loans during government shutdowns. Congressional Democrats introduced bills that would waive ...
Both Roth thrift savings plans (TSPs) and Roth individual retirement accounts (IRAs) can offer significant tax advantages and the potential for tax-free growth, but they cater to different needs and ...
Starting January 1, 2026, Federal employees and retirees will be able to convert money from their traditional Thrift Savings Plan accounts to a Roth TSP account. Federal employees can make their ...
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