TSP Hardship Withdrawal Costs

TSP Hardship Withdrawal Costs Some tough times for Feds during the past month.

Last week the TSP announced that TSP Hardship Withdrawals totaled 8,200 during the 16-day Government Shutdown (versus 5,500  during the same period in 2012).  So far in 2013 the number of TSP Withdrawals adds up to over 104,000 transactions.

Over 8,000 TSP hardship withdrawals in 2 weeks is pretty staggering considering that nobody actually lost income (all Federal Employees were made whole for lost pay and leave following the shutdown).  Paychecks were never forfeited- just delayed.   But I guess a lot of folks are in some pretty dire cash flow conditions, considering that eligibility to make a TSP Hardship Withdrawal requires one of the following: Continue reading

Thrift Savings Plan Guidance for Federal Furlough

Thrift Savings Plan Guidance for Federal Furlough

I had a chance to tune in to the recent TSP podcast interview with the TSP Executive Director.  Here’s 6 more reasons to love TSP:

1.  TSP is always open for business, even during federal furloughs and shutdowns.  This is because TSP is funded by the (miniscule) fees from funds and contributions (from both Civilian and Active Duty participants. Continue reading