Survey: Most feds happy with their TSP

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.

Reader comments

Mon, Nov 27, 2017 Me Here

My biggest complaint is being hamstrung by the Roth relationship to the traditional--i.e., you have to withdraw and move contents around in the same proportions!

Mon, Nov 27, 2017

The law has ALREADY been changed, however TSP will require a couple of years to accomplish the administrative task of updating their rules and systems.

Thu, Oct 26, 2017

TSP does have many more positives and if folks write the group at TSP and detail what type of with drawl options would make the service better they would take this under consideration.

Wed, Oct 25, 2017

The TSP and the folks running the TSP are fantastic. They surely are well versed in managing retirement funds for the federal worker.

Tue, Oct 24, 2017 ed Hampton Roads

Withdrawn options REALLY do suck!

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