590 Thrift Savings Plan

591 Overview

591.1 Description

591.11 Administration

The Thrift Savings Plan (TSP), which Congress authorized in the Federal Employees’ Retirement System Act of 1986, is a retirement savings and investment plan for federal employees. The Federal Retirement Thrift Investment Board (FRTIB), an independent government agency, administers the plan. The law requires the following of the FRTIB:

1. To have fiduciary responsibility of the TSP.
2. To act in the sole interest of participants.

Policies and regulations of the FRTIB are controlling in the event of conflict with the information contained in this subchapter.

591.12 Getting Help from TSP

Participants may obtain information and help from the TSP as follows:

1. Website. The TSP’s website, www.tsp.gov, provides employees with general information, forms, and publications. The TSP booklet (TSPBK08), Summary of the Thrift Savings Plan for Federal Employees, and other TSP materials are available on www.tsp.gov.
2. Telephone. The ThriftLine, TSP’s automated voice response system, is available to participants 24 hours a day, 7 days per week.
1. Participants can use the system to do the following:
1. Get general information about their account.
2. Retrieve the latest TSP information on rates of return and share prices.
3. Contact a participant service representative (PSR).
2. To use the ThriftLine system, participants:
1. Call 1-TSP-YOU-FRST (1-877-968-3778) or the Telecommunication Device for the Deaf (TDD) line for the hearing impaired: Dial 711.
2. Must provide their TSP account number and personal identification number (PIN).
3. Can select option 3 to contact a PSR. PSRs are available Monday through Friday 7 a.m. to 9 p.m. Eastern Time.

591.2 Enrollment

Eligible employees can elect to start, stop, or change their contributions at any time. Eligible employees must submit all participant changes through one of the following options:

1. PostalEASE, accessible on Blue (https://blue.usps.gov) and LiteBlue (https://liteblue.usps.gov).
2. Calling the Human Resources Shared Service Center (HRSSC) at 877-477-3273, option 1 (TTY 866-260-7507).

591.3 Eligibility to Contribute

591.31 General

All career employees are permitted to contribute to the TSP.

591.32 New Career Employees

The Postal Service automatically enrolls all eligible new career employees into TSP at the TSP mandated contribution rate. Employees may increase or decrease their participation in the plan through one of the following options:

1. PostalEASE, accessible on Blue (https://blue.usps.gov) and LiteBlue (https://liteblue.usps.gov).
2. Calling the Human Resources Shared Service Center (HRSSC) at 877-477-3273, option 1 (TTY 866-260-7507).

591.33 Rehired Employees

The Postal Service automatically enrolls in the TSP, at the TSP mandated contribution rate, employees rehired after July 31, 2010, who are members of the Federal Employee Retirement System (FERS) or Civil Service Retirement System (CSRS). The TSP mandated contribution rate is deducted from their basic pay each pay period. Rehired employees may increase or decrease their contributions through PostalEASE (accessible on USPS websites Blue and LiteBlue), or by calling the HRSSC at 877-477-3273, option 1 (TTY 866-260-7507). The following provisions also apply:

1. Employee contributions and applicable agency contributions will resume upon rehire for rehired FERS or CSRS employees who had a break in service of less than 31 full calendar days and were previously contributing to the TSP. Employees not previously contributing can begin at any time.
2. Rehired FERS or CSRS employees who had a break in service of 31 or more full calendar days, regardless of whether they were enrolled before their break, will be enrolled automatically in the TSP at the TSP mandated contribution rate, which is deducted from their basic pay each pay period.

591.34 Reemployed Annuitants

591.341 Eligibility

A reemployed annuitant is an individual rehired by the federal government and who continues to receive basic retirement benefits from CSRS or FERS. The following eligibility rules apply:

1. Reemployed annuitants performing service that FERS, or CSRS covers are eligible to participate in the TSP. Agency contributions for FERS reemployed annuitants must begin with the effective date of their reappointment to the FERS position.
2. Reemployed annuitants not performing covered service are not eligible to participate in the TSP.

591.342 Enrollment

Reemployed annuitants may resume previous enrollment or be auto-enrolled into the TSP based on the length of the employees’ break in service, the same as for rehired employees (see 591.33).

591.343 Contributions

Contributions that reemployed annuitants make are based on the basic salary for their position prior to the required reduction for the annuity they are receiving.

591.35 Transfers from Another Agency

The following must continue without interruption for CSRS and FERS employees who transfer from other federal agencies:

1. TSP loan payment.
2. Automatic (1 percent) contributions.
3. Employee and matching contributions (if any).

The HRSSC must submit a completed TSP-19, Transfer of Information Between Agencies, to the Eagan Accounting Service Center (ASC).

591.36 Dual Appointments

CSRS- or FERS-covered employees who receive a second, simultaneous (dual) appointment are eligible to participate in the TSP under each appointment. When the Postal Service and another federal agency or appointing authority makes the appointments, the following rules apply:

1. Each agency automatically enrolls the employees until they elect to change or terminate their participation in the TSP (with each agency). Each agency must use only basic pay employees earn at that respective agency to determine TSP contributions.
2. Employees whose retirement coverage does not continue under the second appointment are not eligible to participate in the TSP under the second appointment.