Tsp 1 Form PDF Details

Are you looking to complete a TSP-1 Form? Filling out the Thrift Savings Plan Form 1 can feel like a daunting task, but it doesn't need to be. This guide will provide detailed instructions on how to correctly fill out your TSP-1 form so that you can gain access to your hard-earned retirement funds. We will go over all of the necessary information needed for this complex application and discuss any common questions that come along with submitting a TSP-1 form. With our step by step guidance, you'll be able to navigate this process efficiently and without any stress!

QuestionAnswer
Form NameTsp 1 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namestsp 1 tsp fillable 2015 form

Form Preview Example

THRIFT SAVINGS PLAN

TSP-1

ELECTION FORM

Use this form to start, stop, or change the amount of your contributions to the Thrift Savings Plan (TSP).

Before completing this form, please read the Summary of the Thrift Savings Plan and the instructions on the back of this form. Type or print all information. Return the completed form to your agency personnel or benefits office. Your agency should return a copy to you after completing Section V.

Note: To choose your investment funds, see the instructions in the General Information section on the back of this form.

I.

 

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION

1.

 

 

 

 

 

 

 

 

 

 

 

 

ABOUT YOU

 

Name (Last)

 

 

(First)

 

 

 

 

(Middle)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street Address

 

 

City

 

State

Zip Code

 

3.

 

–

 

–

 

4. (

 

)

 

–

 

 

 

 

Social Security Number

 

 

Daytime Phone (Area Code and Number)

 

 

5.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office Identification (Agency and Organization)

 

 

 

 

 

 

 

II.

CHOOSE THE

AMOUNT OF YOUR CONTRIBUTIONS

Your choice will cancel all previous elections.

To start or change the amount of traditional (pre-tax) or Roth (after-tax) contributions to your TSP account, enter either a whole percentage of your basic pay per pay period or a whole dollar amount per pay period for each type of contribution you elect. (You may choose a percentage for one type of contribution and a dollar amount for the other type of contribution.) Remember: A blank line next to a type of contribution equals 0% or $0 contributed.

6.

Traditional (Pre-Tax) Contributions

 

.0%

OR

7.

$

 

.00

8.

Roth (After-Tax) Contributions

 

.0%

OR

9.

$

 

 

.00

 

 

III.

STOP SOME OR ALL OF YOUR CONTRIBUTIONS

To stop all or just one type of your contributions to the TSP, check the box in Item 10 that applies and complete Section IV. Your payroll contributions will stop no later than the first full pay period after your agency employing office receives this form. (If you are a Federal Employees Retirement System [FERS] employee and you stop your contributions, your Agency Matching Contributions will stop, but Agency Automatic [1%] Contributions will continue. Read the instructions on the back.)

10.

I choose not to save for my retirement. Please stop all my payroll contributions to my TSP account.

 

Stop only my traditional (pre-tax) payroll contributions to my TSP account.

 

Stop only my Roth (after-tax) payroll contributions to my TSP account.

If you are a newly hired (or rehired) employee, you can generally stop your automatic employee contributions be- fore they start if you submit this form to your agency before the end of your first full pay period. (See note on back.)

IV.

 

 

 

 

 

 

/

/

SIGNATURE

11.

 

 

 

 

12.

 

 

Participant’s Signature

 

 

 

 

Date Signed (mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

V.

 

 

 

 

 

 

 

 

FOR

13.

 

14.

/

/

15.

/

/

EMPLOYING

 

Payroll Office Number

 

Receipt Date (mm/dd/yyyy)

 

Effective Date (mm/dd/yyyy)

OFFICE USE

 

 

 

 

 

 

 

 

ONLY

16.

 

 

 

 

 

Signature of Agency Official

PRIVACY ACT NOTICE. We are authorized to request the information you pro- vide on this form under 5 U.S.C. chapter 84, Federal Employees’ Retirement System. Your agency or service will use this information to identify your TSP account and to start, change, or stop your TSP contributions. In addition, this information may be shared with other federal agencies for statistical, auditing, or archiving purposes. The information may also be shared with law enforcement agencies investigating a viola- tion of civil or criminal law, or agencies implementing a statute, rule, or order.

It may be shared with congressional offices, private sector audit firms, spouses, former spouses, and beneficiaries, and their attorneys. Relevant portions of the information may also be disclosed to appropriate parties engaged in litigation and for other routine uses as specified in the Federal Register. You are not required by law to provide this information, but if you do not provide it, your agency or service will not be able to process your request.

ORIGINAL TO PERSONNEL FOLDER

Provide a copy to the employee and to the payroll office.

Form TSP-1 (1/2019)

PREVIOUS EDITIONS OBSOLETE

TSP-1, INFORMATION AND INSTRUCTIONS

GENERAL INFORMATION

You may start, stop, or change your contributions at any time. Your TSP election will stay in effect until you submit

another election or until you leave federal service. (This form only applies to regular contributions. If you are age 50 or older and want to make or change catch-up contributions, use Form TSP-1-C, Catch-Up Contribution Election.)

Important note for new TSP participants: All contributions to your account will be invested in the Lifecycle (L) Fund most appropriate for your age unless you direct us to allocate your contributions differently. The TSP publication Summary of the Thrift Savings Plan describes all of your investment choices and discusses their risks and advantages. For more information, you can also obtain a copy of the TSP Fund Information sheets. (The most current versions of TSP forms and publications are available on the TSP website at tsp.gov.)

To choose your investment fund(s), use the TSP website (tsp.gov) or call the ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, call 404-233-4400. On the TSP website, you will need your TSP account number (or user ID) and web password. If you use the ThriftLine, you will need your TSP account number and ThriftLine Personal Identification Number (PIN). If you are a new participant, your TSP account number, ThriftLine PIN, and web password will be mailed to you (separately) after your account has been established.

If you change your address, notify your agency immediately to correct your records for your TSP account.

SECTION I

Complete all items in this section.

 

 

SECTION II

Your choice will cancel all previous elections.

Example

Previous Election:

Traditional 5%

Roth 2%

New Election:

Traditional 5%

Roth 10%

Complete this section to start your TSP contributions or to change the amount and type of contributions. Because whatever you enter in this section will cancel all previous elections, be sure to indicate exactly what percentages/ amounts you want to contribute, even if part of your election has not changed (see the example in the margin). You can elect to make traditional (pre-tax) and Roth (after-tax) contributions simultaneously. Traditional contributions come out of your pay before income taxes are calculated; you pay income taxes on these contributions and their earnings when you withdraw them. Roth contributions are made from your pay after taxes, and the earnings grow in your account tax-deferred. Withdrawals of Roth contributions are tax-free. The earnings associated with Roth contributions are also tax-free, but only if 5 years have passed since January 1 of the calendar year in which you made your first Roth contribution, and you have reached age 59½, have a permanent disability, or have died. Note for FERS: All agency contributions to your account are tax-deferred, even if they are matching your Roth contributions.

Complete either Item 6 or Item 7 (not both) for traditional (pre-tax) contributions; either Item 8 or Item 9 (not both) for Roth contributions. You may choose a percentage of basic pay for one type of contribution and a dollar amount (as little as $1) for the other type of contribution.

If you choose a percentage of basic pay, your contribution amount will automatically increase when you receive a pay raise.

If you choose a dollar amount per pay period, your contribution amount will not increase when you receive a pay raise; you must submit a new Form TSP-1 to change the amount.

Contribution limit. The total of your traditional and Roth contributions cannot exceed the Internal Revenue Code (IRC) annual elective deferral limit, which may change each year. For the current limit, visit "Contribution Limits" at tsp.gov.

SECTION III

Complete Item 10 to stop all or just one type of your contributions. You may restart your contributions at any time.

 

FERS employees: Your Agency Automatic (1%) Contributions will continue after you stop your employee contribu-

 

tions, but you will no longer receive valuable Agency Matching Contributions. (If you restart your contributions, the

 

matching contributions will resume.)

 

Note for newly hired or rehired FERS or CSRS employees: Your agency automatically deducts 3% of your pay,

 

tax-deferred, and deposits the money in your TSP account for your retirement savings. If you want all or any portion

 

of your automatic contributions to be after-tax Roth contributions, you must complete Section II and indicate what

 

percentages or amounts you want as traditional (pre-tax) and Roth (after-tax) contributions. You can stop your auto-

 

matic employee contributions before they start if you submit this form to your agency at the start of your first full pay

 

period, subject to your agency’s processing deadlines. If your agency has already begun to deduct your automatic

 

employee contributions from your pay each pay period, you are entitled to request a refund of your initial contribu-

 

tions by submitting Form TSP-25, Automatic Enrollment Refund Request. We must receive Form TSP-25 within 90

 

days of your first contribution.

 

 

SECTION IV

You must complete this section.

 

 

SECTION V

The Receipt Date (Item 14) is the date that a properly completed form is received by the agency personnel office.

(To be completed

If the form has not been properly completed, it should be returned to the employee.

Requests must be processed immediately for new and rehired employees who want to stop automatic enrollment

by personnel or

benefits office)

before it begins. This will help avoid a payroll deduction that may have to be refunded. The Effective Date (Item 15)

 

must be no later than the first full pay period after receipt of a properly completed form.

 

You should provide the participant with a copy of this completed election form.

Form TSP-1 (1/2019)

PREVIOUS EDITIONS OBSOLETE

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Step # 1 for filling out Tsp 1 Form

2. Once your current task is complete, take the next step – fill out all of these fields - If you are a newly hired or, IV SIGNATURE, V FOR EMPLOYING OFFICE USE ONLY, Participants Signature, Date Signed mmddyyyy, Payroll Office Number, Receipt Date mmddyyyy, Effective Date mmddyyyy, Signature of Agency Official, PRIVACY ACT NOTICE We are, It may be shared with, ORIGINAL TO PERSONNEL FOLDER, Provide a copy to the employee and, and Form TSP PREVIOUS EDITIONS with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

Tsp 1 Form completion process detailed (part 2)

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