TSP how-tos
Starting Contributions
To start contributing to the TSP, ask your service for the TSP Election Form, download it, or use your service's electronic version if one is available. Complete the form to show what percentage of basic pay, incentive pay, special pay, or bonus pay you want to contribute, and submit it to your service. Remember, you must elect to contribute from basic pay in order to contribute from incentive or special pay (including bonus pay). Your service will advise you of the effective date of your election.
Your service will deduct the amount you choose from your pay each pay period and will continue to do so until you submit another TSP Election Form to stop or change the amount. Also, if you elect to contribute from a bonus, your initial election will remain in effect and cover any future installments of that bonus or any other bonus to which you become entitled. If this is not what you intend, you will need to terminate your bonus election once the contribution from the current bonus is complete.
Changing the Amount of Contribution
If you want to change the amount of your contributions from basic, incentive, or special pay, submit a TSP Election Form to your service (or use your service's electronic version, if one is available).
If you want to change the amount of your contributions from bonus pay, submit a TSP Election Form to your service at any time (or use your service's electronic version, if one is available).
Stopping Contributions
You can stop contributing to the TSP at any time by completing the appropriate sections of the Election Form and submitting it to your service. Your contributions will generally stop no later than the end of the pay period in which your service accepts the form. Because of cut-off dates for processing elections, your service will advise you of the date your election will be made effective. The following rules apply to your termination request:
- If you terminate basic pay contributions, you may no longer contribute from incentive pay, special pay, or bonus pay.
- You may terminate contributions from incentive pay, special pay, or bonus pay at any time, yet continue contributions from basic pay.
- You may restart special, incentive, or bonus pay contributions at any time, provided you have elected to contribute from basic pay.
— Defense Finance and Accounting Service (DFAS)
