The Thrift Savings Plan (TSP) Enhancement Act of 2009, H. R. 1256, was signed into law and has a number of changes to the TSP. In particular, this law eliminates the waiting period for employees covered under the Federal Employees’ Retirement System (FERS) to receive Agency Automatic (1%) and Agency Matching Contributions. These changes are effective August 1, 2009, and affect the following employees:
(1) Newly hired or rehired FERS employees.
(2) FERS employees who are currently employed and waiting until the second election period to become eligible for agency contributions (i.e., employees hired on or after December 1, 2008).
Both groups will be eligible for the Agency Automatic Contribution, and if the participant is contributing to TSP, he or she will be eligible for the associate Agency Matching Contributions.
— Compensation,
Human Resources, 7-30-09
