TSP announces exceptions for hurricane victims

The Thrift Savings Plan this week announced a temporary change to financial hardship withdrawal rules for TSP participants affected by Hurricane Matthew.

As of Oct. 25, TSP said that financial hardship in-service withdrawal requests will be treated as a qualifying hardship for these participants.

TSP also will waive the rule prohibiting employee contributions for six months after taking a hardship withdrawal—provided the participant’s primary residence or place of employment is located in a “covered disaster area” and has incurred a loss as a result of Hurricane Matthew, or the hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and who has incurred a loss as a result of Hurricane Matthew.

To qualify, a participant must be actively employed as a federal civilian or a member of the uniformed services. Complete application instructions are available on the TSP website.


Reader comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

Contributors

Edward A. Zurndorfer Certified Financial Planner
Mike Causey Columnist
Tom Fox VP for Leadership and Innovation, Partnership for Public Service
Mathew B. Tully Legal Analyst

Free E-Newsletter

FederalDAILY

I agree to this site's Privacy Policy.

Stay Connected

Latest Forum Posts

Ask the Expert

Have a question regarding your federal employee benefits or retirement?

Submit a question