Tsp U 1 Form PDF Details

The TSP U-1 Election Form serves as a critical tool for members seeking to initiate, halt, or modify their contributions to the Thrift Savings Plan (TSP), a vital component of federal employees' retirement savings strategy. This form allows for the adjustment of contribution rates both from traditional (pre-tax) and Roth (after-tax) sources, impacting the manner in which future retirement savings grow. It's essential for individuals to make informed decisions about their contributions, taking into consideration the various types of pay that can be contributed, including basic, incentive, special, and bonus pays. Furthermore, the form includes options to stop contributions entirely, with specific instructions for handling contributions from different types of pay. The significance of completing the TSP-U-1 form correctly cannot be overstated, as it encompasses choices that directly affect retirement savings and their tax implications. With sections dedicated to personal information, contribution choices, and signatures from both the participant and authorized service officials, this form is a comprehensive affidavit of one’s current retirement savings strategy. Not only does the form facilitate planning for the future, but it also adheres to privacy guidelines and legal requirements, ensuring the protective handling of personal information.

QuestionAnswer
Form NameTsp U 1 Form
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesu tspu download, tsp savings form, tsp u 1, tsp tspu forms online

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THRIFT SAVINGS PLAN

TSP-U-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 the office of your service that is responsible for enrolling members in the TSP. That office should return a copy to you after com- pleting 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.

Mailing Address (may be APO or FPO)

3.

 

–

 

 

–

 

Social Security Number

 

 

5.

/

 

 

/

 

Date of Birth (mm/dd/yyyy)

CityStateZip Code

4. ( )–

Daytime Phone (Area Code and Number)

6.

Office Identification (Service and Organization)

II.

CHOOSE THE AMOUNT OF YOUR CONTRIBUTIONS

To start or change the amount of your contributions, enter in Items 7–10 the percentage of your pay each pay period that you want as traditional (pre-tax) contributions. Enter in Items 11 –14 the percentage of your pay each pay period that you want as Roth (after-tax) contributions. Note: You must elect to contribute at least 1% of basic pay (or its equivalent) to be eligible to contribute from your other types of pay (see instructions). Remember: A blank line next to a type of contribution equals 0% contributed.

Your choice will cancel

 

 

all previous elections.

Traditional (Pre-Tax) Contributions

Roth (After-Tax) Contributions

 

All Services

All Services

Basic Pay

Incentive Pay

Special Pay

Bonus Pay

7..0%

8..0%

9..0%

10..0%

11. .0%

12. .0%

13. .0%

14. .0%

III.

STOP YOUR CONTRIBUTIONS

When you stop your contributions from basic pay, contributions from incentive, special, and bonus pay will also stop.

To stop all contributions to the TSP, check Item 15 or 19 (or both, as applicable). If you want to stop only your contributions from incentive pay, special pay, or bonus pay, check the appropriate box(es). Your contributions will stop no later than the first full pay period after your service receives this form. See the instructions for this section for information about stopping automatic contributions.

Stop My Traditional Contributions

Stop My Roth Contributions

15.

From basic pay

19.

From basic pay

16.

From incentive pay

20.

From incentive pay

17.

From special pay

21.

From special pay

18.

From bonus pay

22.

From bonus pay

IV.

 

 

 

 

 

 

/

/

SIGNATURE

23.

 

 

 

 

24.

 

 

Participant’s Signature

 

 

 

 

Date Signed (mm/dd/yyyy)

V.

 

 

 

/

/

 

/

/

FOR

25.

 

26.

27.

SERVICE

 

Payroll Office Number

 

Receipt Date (mm/dd/yyyy)

 

Effective Date (mm/dd/yyyy)

 

 

 

 

 

 

 

 

USE ONLY

28.

Signature of Service 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 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 infor- mation may also be shared with law enforcement agencies investigating a violation 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

Form TSP-U-1 (1/2019)

Provide a copy to the member and to the Payroll/Finance Office.

PREVIOUS EDITIONS OBSOLETE

TSP-U-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 separate from the uniformed services. This form only applies to regular contributions. If you are age 50 or older and want to make catch-up contributions, use Form TSP-U-1-C, Catch-Up Contribution Election. Basic pay for active duty is defined in 37 U.S.C. section 204; pay for the Ready Reserve (e.g., inactive duty for training (IDT) pay) is defined in 37 U.S.C. section 206. Incentive pay (e.g., flight pay, submarine pay, hazardous duty pay), special pay (e.g., medical and dental officer pay, hardship duty pay, career sea pay), and bonus pay (e.g., enlistment and reenlistment bonuses), are defined in 37 U.S.C. chapter 5. (Although bonus pay is a form of special pay, it is treated separately from special pay for TSP purposes.)

Important note for new TSP participants: If you are covered by the Blended Retirement System (BRS) and do not have a contribution allocation on file, all new 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. If you are not covered by BRS, all contributions

to your account will be invested in the Government Securities Investment (G) Fund until 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. Using the ThriftLine, you will need your TSP account number and your 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 service’s personnel or benefits office that is responsible for your TSP enrollment so that your service can correct your records for your TSP account.

SECTION I

 

Complete all items in this section. In Item 4, provide your daytime telephone number.

 

 

 

SECTION II

 

Complete this section to start or change the amount of your contributions. Whatever you enter in this section will cancel

Your choice will

 

all previous elections; therefore, be sure to indicate exactly what percentages 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)

cancel and replace

contributions simultaneously. Traditional contributions come out of your pay before taxes are calculated; you pay taxes

all previous

 

 

on these contributions and their earnings when you withdraw them. (If the contributions were from tax-exempt pay, you will

elections.

 

 

owe taxes only on the earnings at withdrawal.) Roth contributions are made with after-tax or tax-exempt money, and the

 

 

Example

 

earnings grow in your account tax-deferred. Withdrawals of Roth contributions are tax-free. The earnings associated with

PREVIOUS ELECTION:

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.

 

 

TRADITIONAL

5%

Your contribution election. You must elect a percentage of your basic pay in Items 7 and/or 11 in order to be eligible to

ROTH

2%

elect to contribute from incentive, special, and bonus pay (Items 8–10 and Items 12–14). You can then contribute from 1%

NEW ELECTION:

 

to 100% of these other types of pay, even if you are not currently receiving them; your election will cover future payments

 

to which you become entitled.

 

 

TRADITIONAL 5%

ROTH 10%

Tax-exempt contributions. Your pay earned while serving in a combat zone is tax-exempt. If you elect to make Roth contributions from this type of basic pay (Item 11), the earnings on your contributions will also be tax-free when you withdraw them (if you qualify). If you elect to make traditional contributions from your basic pay (Item 7), you will have to pay taxes on the earnings when you withdraw them.

Contribution limits. The Internal Revenue Code (IRC) limits contributions to your TSP account. The 402(g) annual elective deferral limit is the maximum amount of pay you can contribute in a single year. It does not apply to traditional contributions from tax-exempt pay earned in a combat zone. The 415(c) annual additions limit is the maximum amount per employer that can be contributed on your behalf in a single year, including all of your contributions from taxable and tax-exempt pay, as well as any contributions from your employer. (For 415(c) purposes, working for multiple federal agencies or services is considered having one employer.) Note: The 402(g) limit does apply to Roth contributions from tax-exempt pay; when you reach that limit these contributions stop. In such cases, if you want to continue contributing tax- exempt pay up to the 415(c) limit, you will need to submit a new Form TSP-U-1 electing traditional contributions. IRC limits may be adjusted annually. For the current limits, visit “Contribution Limits” at tsp.gov.

IMPORTANT INSTRUCTIONS FOR SECTIONS III, IV, AND V ON NEXT PAGE

Form TSP-U-1 (1/2019)

PREVIOUS EDITIONS OBSOLETE

SECTION III

Complete this section to stop your contributions. If you do not make contributions from basic pay (see Items15 and 19), your

Do not complete

service will automatically stop your contributions from incentive pay and special pay, including bonus pay. However, you

may stop contributing from incentive pay, special pay (except bonus pay), or bonus pay and still continue your contributions

this section if you

from basic pay. You may restart your contributions at any time.

completed Section II.

 

 

Note for members who receive automatic and matching contributions: Your Service Automatic (1%) Contributions will

 

continue after you stop your member contributions, but you will no longer receive valuable Service Matching Contributions.

 

(If you restart your member contributions, the matching contributions will resume.)

 

Important information for those who joined the uniformed services on or after January 1, 2018: Your service automatically

 

deducts 3% of your pay, tax-deferred, and deposits the money in your TSP account for your retirement savings. Also, if you are

 

not making TSP contributions in the final pay period of a given year, you will be automatically reenrolled in the same manner.

 

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 automatic member contributions before they start by submitting this form to your service, subject to

 

your service's processing deadlines. If automatic deductions have already begun, you are entitled to request a refund of

 

your initial contributions by submitting Form TSP-25, Automatic Enrollment Refund Request. The TSP must receive Form

 

TSP-25 within 90 days of your first automatic contribution. You may not request a refund of contributions resulting from

 

automatic reenrollment, which happens if you are not contributing to your TSP account at the end of a given year. See

 

Form TSP-25 for other important limitations on your ability to receive a refund.

 

 

SECTION IV

You must complete this section.

 

 

SECTION V

The Receipt Date (Item 26) is the date that a properly completed form is received by the office responsible for TSP

 

enrollment.

(To be completed

The Effective Date (Item 27) must be no later than the first full pay period after receipt of a properly completed form.

by service official)

You should provide the participant with a copy of this election for his or her records.

Form TSP-U-1 (1/2019)

PREVIOUS EDITIONS OBSOLETE

Form TSP-U-1 (1/2019)

PREVIOUS EDITIONS OBSOLETE

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Part # 1 of completing 1 tspu

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Part number 2 of filling out 1 tspu

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