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Update TSP info #3816

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Feb 29, 2024
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Update TSP info #3816

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Update TSP info
awichman Feb 28, 2024
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26 changes: 5 additions & 21 deletions pages/getting-started/classes/benefits.md
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Expand Up @@ -517,12 +517,9 @@ document.
Employees at TTS are eligible to participate in the
[Thrift Savings Plan](https://www.tsp.gov/index.html) (TSP). For more
information on TSP, please refer to the
[TSP Insite page](https://insite.gsa.gov/topics/hr-pay-and-leave/benefits/thrift-savings-plan?term=tsp).
[TSP Insite page](https://insite.gsa.gov/employee-resources/hr-eeo-pay-and-leave/benefits/thrift-savings-plan?term=tsp).

To start, change, or stop your contributions, you'll need to fill out
[Form TSP-1](https://www.tsp.gov/PDF/formspubs/tsp-1.pdf).

You can also update TSP directly in [HR
You will update TSP directly in [HR
Links]({% page "/travel-and-leave/leave/#logging-into-hr-links" %}) by following
this
[visual guide](https://corporateapps.gsa.gov/corporateapps/files/Updating-TSP-Traditional-or-Roth.pdf)
Expand All @@ -532,24 +529,11 @@ or these steps:
2. Click on the **TSP** tile/row to view and edit your contribution amounts
3. Click **Save**

If you ever move, you can update your address for TSP by emailing it to both the
[Consolidated Processing Center](mailto:cpc.personnel@gsa.gov) and the
[GSA Payroll Office](mailto:KC-Payroll.Finance@gsa.gov). Payroll will notify the
TSP office of your new address.

To transfer your previous retirement account into your TSP, you'll need to fill
out a [Form TSP-60](https://www.tsp.gov/PDF/formspubs/tsp-60.pdf) for every
account you want to roll over. If you need help, you can call them by dialing
**1-877-968-3778**. Be sure to have your TSP account number and your SSN and
mailing address handy.
If you had been contributing to a 401k, 403b, or a similar plan at a previous employer this year, your total contribution for all similar plans cannot be higher than the [annual limit](https://www.tsp.gov/making-contributions/contribution-limits/).

If you have been contributing to a 401k, 403b, or a similar plan at your
previous employer, your total contribution for all similar plans cannot be
higher than [the annual limit](https://www.tsp.gov/bulletins/20-8/).
You can roll over money from eligible retirement plans to your TSP account. TSP offers a rollover concierge service and a self-service option. Visit the [TSP Move Money page](https://www.tsp.gov/tsp-basics/move-money-into-tsp/) for details.

You may need to include a special additional statement with your tax return
explaining you rolled over your IRA to the TSP. For guidance on this, see the
[IRS interactive guide to "Do I Need to Report the Transfer or Rollover of an IRA or Retirement Plan on My Tax Return?"](https://www.irs.gov/help/ita/do-i-need-to-report-the-transfer-or-rollover-of-an-ira-or-retirement-plan-on-my-tax-return).
There are numerous free TSP webinars available: visit the [TSP Online Learning page](https://www.tsp.gov/online-learning/) to view descriptions and dates.

## Training

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