How do I log into my TSP account?
How to Access Your TSP Account Online
- Go to www.tsp.gov.
- If you know your TSP account number, enter it in the blocks on the upper left hand side and press the Log In button. ...
- If you do not know your TSP account number, click on the words "forgot your account number or user ID?"
Why can't I access my TSP account?
Clear browser history to fix login issue
If the “Log In” button doesn't work and you return to a blank login screen after you input your correct user ID and password, try clearing website history and cookies before you log in again. Follow instructions for the browser you use: Chrome.
How long does a TSP withdrawal take?
It generally takes between 7 to 10 business days to process your request once you've properly completed and submitted it. We disburse withdrawals each business day. You can check My Account at tsp.gov or call the ThriftLine to find out the status of your withdrawal request, including whether the payment has been made.
Can you withdraw from TSP early?
There are two types of plans — the traditional TSP and the Roth TSP — with multiple funds available to choose from depending on your retirement goals. ... An early distribution is a permanent reduction of retirement savings. There is a 10% penalty for early withdrawals if you are younger than age 59 and a half.
How do I claim my TSP withdrawal?
Tax Reporting
The TSP reports all TSP distributions to the IRS and to the appropriate state tax agencies (if applicable) and to the TSP participant on IRS Form 1099-R (Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.).
What do you do with your TSP when you retire?
Many people in retirement elect to withdrawal the entire amount and transfer the TSP to an IRA.
...
Essentially, when you retire you have 4 options for your TSP:
- Begin regular (likely monthly) installment payments. ...
- Purchase an annuity. ...
- Leave it in the TSP and let it grow. ...
- Make a single withdraw / transfer the TSP to an IRA.
At what age can you withdraw from TSP?
Is the TSP a good retirement plan?
While they may not have as many funds to choose from, TSP participants do have one big advantage over most 401(k) investors: lower fees. The total expense ratio, which covers both investment and administrative fees, is 0.055% for individual TSP funds.