Survey: Most feds happy with their TSP
- By FederalSoup Staff
- Oct 23, 2017
A recent survey found that the vast majority of Thrift Savings Plan participants are happy with their service, but 30 percent of current participants said they will transfer their money out of the program after retirement, Government Executive reports.
According to the article, 89 percent of survey respondents are satisfied with TSP, but many do not like TSP’s strict withdrawal rules, and that would be the reason they will move their money out of the program after retirement from federal government.
TSP officials are currently lobbying Congress to loosen the restrictions on withdrawals with a bill that would allow participants to make multiple age-based withdrawals from their TSP accounts and remain eligible for partial withdrawals after they leave government, the report notes.