Form Tsp-1 - Election Form - Thrift Savings Plan (Page 2 of 2) in pdf

TSP-1, INFORMATION AND INSTRUCTIONS

GENERAL

You may start, stop, or change your contributions at any time. Your TSP election will stay in effect until you sub-

INFORMATION

mit another election or until you leave Federal service. (This form only applies to regular contributions. If you are age

50 or older and want to make or change catch-up contributions, use Form TSP-1-C, Catch-Up Contribution Election.)

Important note for new TSP participants: All contributions to your account will be invested in the Lifecycle (L)

Fund targeted most closely to the year you turn 62 unless you direct the TSP to allocate your contributions differently.

The TSP publication Summary of the Thrift Savings Plan describes all of your investment choices and discusses their

risks and advantages. For more information, you can also obtain a copy of the TSP Fund Information sheets. (The

most current versions of TSP forms and publications are available on the TSP website at tsp.gov.)

To choose your investment fund(s), use the TSP website (tsp.gov) or the ThriftLine at 1-TSP-YOU-FRST

(1-877-968-3778; outside the U.S. and Canada, call 404-233-4400). On the TSP website, you will need your TSP

account number (or user ID) and Web password. If you use the ThriftLine, you will need your TSP account number

and ThriftLine Personal Identification Number (PIN). If you are a new participant, your TSP account number,

ThriftLine PIN, and Web password will be mailed to you (separately) after your account has been established.

If you change your address, notify your agency immediately to correct your records for your TSP account.

SECTION I

Complete all items in this section.

SECTION II

Complete this section to start your TSP contributions or to change the amount and type of contributions. Because

whatever you enter in this section will cancel all previous elections, be sure to indicate exactly what percentages/

Your choice will

amounts you want to contribute, even if part of your election has not changed (see the example in the margin). You

cancel all previous

can elect to make traditional (pre-tax) and Roth (after-tax) contributions simultaneously. Traditional contributions

elections.

come out of your pay before income taxes are calculated; you pay income taxes on these contributions and their

earnings when you withdraw them. Roth contributions are made from your pay after taxes, and the earnings grow

Example

in your account tax-deferred. Withdrawals of Roth contributions are tax-free. The earnings associated with Roth

Previous Election:

contributions are also tax-free, but only if 5 years have passed since January 1 of the calendar year in which you

made your first Roth contribution, and you have reached age 59 ½, have a permanent disability, or have died. Note

Traditional

for FERS: All agency contributions to your account are tax-deferred, even if they are matching your Roth contributions.

Roth

Complete either Item 6 or Item 7 (not both) for traditional (pre-tax) contributions; either Item 8 or Item 9 (not both)

New Election:

for Roth contributions. You may choose a percentage of basic pay for one type of contribution and a dollar amount

(as little as $1) for the other type of contribution.

Traditional

Roth

10%

If you choose a percentage of basic pay, your contribution amount will automatically increase when you receive a

pay raise.

If you choose a dollar amount per pay period, your contribution amount will not increase when you receive a pay

raise; you must submit a new Form TSP-1 to change the amount.

Contribution limit. The total of your traditional and Roth contributions cannot exceed the Internal Revenue Code

(IRC) annual elective deferral limit, which may change each year. For the current limit, visit "Contribution Limits" at

tsp.gov.

SECTION III

Complete Item 10 to stop all or just one type of your contributions. You may restart your contributions at any time.

FERS employees: Your Agency Automatic (1%) Contributions will continue after you stop your employee contribu-

tions, but you will no longer receive valuable Agency Matching Contributions. (If you restart your contributions, the

matching contributions will resume.)

Note for newly hired or rehired FERS or CSRS employees: Your agency automatically deducts 3% of your pay,

tax-deferred, and deposits the money in your TSP account for your retirement savings. If you want all or any portion

of your automatic contributions to be after-tax Roth contributions, you must complete Section II and indicate what

percentages or amounts you want as traditional (pre-tax) and Roth (after-tax) contributions. You can stop your auto-

matic employee contributions before they start if you submit this form to your agency at the start of your first full pay

period, subject to your agency’s processing deadlines. If your agency has already begun to deduct your automatic

employee contributions from your pay each pay period, you are entitled to request a refund of your initial contribu-

tions by submitting Form TSP-25, Automatic Enrollment Refund Request. The TSP must receive Form TSP-25 within

90 days of your first contribution.

SECTION IV

You must complete this section.

SECTION V

The Receipt Date (Item 14) is the date that a properly completed form is received by the agency personnel office.

If the form has not been properly completed, it should be returned to the employee.

(To be completed

Requests must be processed immediately for new and rehired employees who want to stop automatic enrollment

by personnel or

before it begins. This will help avoid a payroll deduction that may have to be refunded. The Effective Date (Item 15)

benefits office)

must be no later than the first full pay period after receipt of a properly completed form.

You should provide the participant with a copy of this completed election form.

Form TSP-1 (9/2015)

PREVIOUS EDITIONS OBSOLETE

Form Tsp-1 - Election Form - Thrift Savings Plan Page 2

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