The Thrift Savings Plan (TSP)
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees. TSP offers federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) type plans.
Some things to consider
New employees covered by the Federal Employees Retirement System (FERS)
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On your TSP match eligibility date, GSA will set up a Thrift Savings Plan account for you, and will automatically contribute an amount equal to 1% of your basic pay each pay period.
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GSA will match $1.00 for every $1.00 you invest for the first 3 percent of your basic salary, and 50 cents for each $1.00 you invest for the next 2 percent of your basic salary. When you make a 5% election, this maximizes the agency contributions.
- You may elect to also contribute any dollar amount or percentage (1% to 100%) of your basic pay, up to the IRS code limit.
Employees covered by the Civil Service Retirement Systems (CSRS)
Frequently Asked Questions
How and when do I enroll in the Thrift Savings Plan (TSP)?
To enroll in the Thrift Savings Plan complete Form TSP-1, TSP Election Form, available at the TSP website or from your local human resources office. You may enroll at anytime after your appointment to GSA.
Where can I find more information about the Thrift Savings Plan (TSP)?
For more information about the Thrift Savings Plan visit the TSP website.
Can I change the amount or percentage I contribute to the Thrift Savings Plan at any time?
GSA employees can change their TSP contributions at any time using Employee Express.
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