TSP changes hardship withdrawals for Hurricane Harvey

Federal employees who have been affected by Hurricane Harvey can now receive some additional help from the Thrift Savings Plan due to its recent change to hardship withdrawals.

As of Sept. 1, 2017, TSP will treat any financial hardship in-service withdrawal request as a qualifying hardship and will waive the rule prohibiting employee contributions for six months after taking a hardship withdrawal if: your primary residence or place of employment is located in and has been affected by Hurricane Harvey; 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 Harvey.

The Federal Retirement Thrift Investment Board has made such rule changes before in past natural disasters.

The rule change is not retroactive and participants may only receive one hardship withdrawal under the change.

Visit the TSP website for detailed information and additional restrictions.

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