Thrift Savings Plan Guidance for Federal Furlough

Thrift Savings Plan Guidance for Federal Furlough

The Federal Retirement Thrift Savings Board (FRTIB)- aka the folks who run the TSP- recently released their update to their Strategic Plan.  Here are some of the highlights (quotes in italics, GubMints commentary in normal  font).

The only down side to the shrinking Customer Base (through Fed attrition and lack of participation by Active Duty) is a possible hike in  TSP fees to compensate for reduced sales volume.

For those arriving late to the GubMints party, make sure you read my gushing post declaring that You and the TSP should be Best Friends Forever.

TSP Customer Base Continue reading

Sorry the GubMints posts have been a bit sparse over the last week or so- I’ve just accepted a new job in Industry, and I’m fully engaged trying to ‘Get a sip of water from the Fire Hose’ as I learn the ropes at the new job.

GubMints posts will be focused on my experiences separating from Federal Service for the next month or so, as I wade my way through the following events: Continue reading

Thrift Savings Plan Guidance for Federal Furlough

The Thrift Savings Plan (TSP) has issued guidance on how TSP accounts will be administered under Federal Employee Furloughs (Sequestration).


  • TSP contributions – Both Agency (Gratis) and Matching- will be throttle back in accordance with what you are actually paid (not ‘base pay’) during furlough pay periods.
  • Can I stop contributing to the TSP?
    Sure.  Just recognize that by stopping contributions, you also stop TSP Matching contributions, which is like leaving free money on the table.  Confused? Here’s more info on the  Types of Contributions to your TSP.

 Can I take a financial hardship withdrawal? Yes, but note:

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(Update 3/12/13: There are now TEN ways you can fight back.  Check the value of your FERS Life Insurance (gratis) benefit). 

It’s time for GubMints to stop chirping about furlough news and help you get in fiscal shape.  Here’s 9 ways to help you look like you were chiseled out of a piece of wood!

  1.  Ditch your landline at home.  If you still ‘need’ to have a landline (i.e. you have a commuity gate, monitored alarm, etc), get an OOMA box for your landline.  All that is necessary is a high-speed internet connection (>384Kbps upload speed).  With OOMA, you get unlimited calling, caller ID, call waiting, and voicemail for almost free (You pay only your state’s 911 Tax/Fee each month).  GubMints has been using OOMA service for over 1 year now.   Savings of $10 – $30/month.

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