How do I contact TSP by phone?

How do I contact TSP by phone?

Contact us directly at 1-877-968-3778 and choose option 3 to speak to a Participant Service Representative if you have questions or if you need to report any suspicious activity involving your TSP account. Learn more about how to protect your TSP account.

What happens to my TSP if I quit?

Once you leave the uniformed services, you’ll no longer be able to make contributions. However, you can still change your investment mix, transfer eligible money into your account, and enjoy our low costs—all while your account continues to accrue earnings.

How do I access my TSP funds?

To request a withdrawal, log into My Account and click on the “Withdrawals and Changes to Installment Payments” link on the menu. From there you’ll have access to an online tool with which to start your withdrawal.

When can I withdraw my TSP after retirement?

age 72
Leave it in the TSP and let it grow Similar to other retirement accounts, you will need to begin minimum withdrawals at age 72.

Can I withdraw all my money from TSP?

You can withdraw your entire TSP account balance in a single payment. A series of monthly payments. You can withdraw your entire account in a series of substantially equal monthly payments.

Can I withdraw money from my TSP without penalty?

You have the option of increasing or waiving this withholding. The taxable portion of your withdrawal is subject to federal income tax at your ordinary rate. Also, you may have to pay state income tax. An additional IRS early withdrawal penalty of 10% may apply if you’re under the age of 59½.

What is the average TSP balance at retirement?

Average TSP account balances for Uniformed Service Members reached almost $30,000 by the end of 2019, while balances for new ‘Blended Retirement System’ (BRS) participants reached close to $7,000 in just two years since the BRS became operational.

Can you cash out your TSP?

How do I check my TSP balance?

1-877-968-3778.

Can you withdraw from TSP at any time?

Rules for age-59 ½ withdrawals You may only take up to four age-59 ½ withdrawals per calendar year. If you have two separate TSP accounts—a civilian TSP account and a uniformed services account—you can only make age-59 ½ withdrawals from the account associated with your active employment at the time of your withdrawal.

Does TSP affect Social Security?

Most federal employees and their spouses will face Social Security taxation. ent of a Social Security dollar. In effect, the withdrawal from the TSP triggers two taxes—the tax on the TSP dollar and a tax on your Social Security that you wouldn’t have had to pay otherwise.

What is the average amount in TSP balance at retirement?

What is the average TSP balance at retirement?