TSP: SpecInt, RReserves-Active; 2009 Mar 25


You may begin contributing — or change the amount of your contributions — to your uniformed services account at any time.
	√	You can make this election using Form TSP-U-1. However, most services use an electronic version of this form. For example, most members have access to myPay. Check with your service TSP representative for guidance.

Even on active duty, you can manage your TSP account(s) 24/7.	√	Using this Web site or the ThriftLine, you can find out your account balance, request transactions, or change the way your money is invested among the TSP funds. You can also view your participant statements on this Web site.
	√	You will need your TSP account number and Web password when using the TSP Web site. If you use the ThriftLine, you will need your TSP account number and PIN.

If you have a TSP loan from your civilian TSP account, the loan payments you make through payroll deduction will stop when your civilian pay stops. (If you separate from your civilian job, see the next question.)		Your agency must notify the TSP in writing (generally, using Form TSP-41, Notification of Nonpay Status) that you are in nonpay status to perform military service. Please note:
	√	Interest will accrue while your loan payments are suspended.
	√	You cannot make a loan payment to your civilian account as a deduction from your military pay.
	√	If you wish, you may continue to make voluntary loan payments by sending in personal checks. Include a Loan Payment Coupon.
	√	If you use military or other leave from your civilian job while you are on active duty, your agency will deduct your loan payment(s) if your pay is sufficient.
	√	If your loan payments stopped but your agency did not notify the TSP that your leave was for military service, your loan may be declared a taxable distribution if your period of nonpay exceeds one year.
	√	For more information about these items, read the TSP booklet Loans.

If you separate from your civilian position when you are called to active duty:	√	You will be required to repay your loan in full within 90 days. If you do not, the outstanding loan balance and any unpaid interest will be reported to the IRS as a taxable distribution.
	√	Your withdrawal request cannot be processed until your loan is closed by either payment in full or a taxable distribution.

While on active duty, keep ALL your Leave and Earnings Statements (LES).	√	Your agency will need your LES to compute your makeup contributions to your civilian account (and your Agency Matching Contributions, if you are FERS) when you return from active duty.