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TSP Information for Postal Employees

Thrift Savings Plan Information for Postal Employees
Source: USPS ELM - Section 590
How To Retrieve Your TSP PIN: TSP PIN Info

The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees. It was authorized by Congress in the Federal Employees' Retirement System Act of 1986. The plan is administered by an independent government agency, the Federal Retirement Thrift Investment Board, whose sole purpose is to operate the plan for the benefit of the participants. Policies and regulations of the board are controlling in the event of conflict with the information contained in this subchapter.

TSP has established a TSP Web Site at http://www.tsp.gov to provide employees with general information, forms, and publications. Two telephone response systems are available for general information as well as personal account information. The TSP ThriftLine at (504) 255-8777 is an automated voice response system, and the Text Telephone at (504) 255-5113 is designed for hearing impaired employees. The TSPBK08, Summary of the Thrift Savings Plan for Federal Employees, and other TSP materials are available at local personnel services offices and on the web site.

TSP OPEN SEASON
Open season is the period during which employees may make an election with respect to the TSP.

a. There are two open seasons each year.
b. Each open season lasts for 2 and 1/2 months with the election period being the last month of the open season.
c. Open seasons are from May 15 through July 31 and from November 15 through January 31.

During open season an eligible employee may submit an election to:

a. Begin contributions.
b. Change the dollar amount or percentage of current contributions.
c. Reallocate current contributions to different investment funds.
d. Terminate contributions.
 

TSP CONTRIBUTIONS
All contributions to the TSP are based on basic pay. Basic pay includes higher level pay but does not include cost-of-living adjustments (COLA, TCOLA), overtime pay, night differential, military pay, allowances, premium pay, or lump-sum terminal leave payments.

Contributions must be made in whole percentages or whole dollar amounts.

FERS Employees
A FERS employee may contribute a percentage of basic pay up to a maximum of 10 percent or a whole dollar amount which does not exceed 10 percent of basic pay. Contributions are withheld each pay period.

CSRS Employees
CSRS and CSRS offset employees may contribute a percentage of basic pay up to a maximum of 5 percent or a whole dollar amount which does not exceed 5 percent of basic pay. Contributions are withheld each pay period.

Automatic Contributions - FERS Employees
The Postal Service automatically contributes an amount equal to 1 percent of the employee's basic salary every pay period. This agency automatic (1 percent) contribution starts the first pay period in the first election period that the employee is eligible to contribute and is made even if the employee chooses not to contribute. The employee's salary is not affected by this automatic contribution.

Automatic Contributions - CSRS Employees
There is no agency automatic (1 percent) contribution for CSRS employees

See the USPS ELM

Note: All information correct when posted. Please see the USPS ELM and Postal Bulletin for possible updates.

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