OPEN ENROLLMENT FOR THRIFT SAVING PLAN
Submitted by mhu305 on Tue, 04/15/2008 - 18:06.
in
Updated:
December 14 2005
ENROLLMENT FOR THRIFT SAVING PLAN
Another open season for the Thrift Saving Plan is now in place. This year's first open season runs from April 15 through June 30, 2004. To enroll or change the amount of your contribution, you must file a contribution election with your personnel office. Use the TSP Election Form or, if you perfer, use the automated system known as PostalEASE. All mail handlers are strongly encouraged to consider full participation in TSP. Especially if you are part of the Federal Employees Retirement System (FERS), TSP represents an important part of your retirement benefits. All employees contributions to the TSP are taken from your pay on a pre-tax basis, and therefore the cost of full participation may be less than you expect. In addition, if you are a FERS participant who contributes to the TSP, you will have the first 3% of your contributions matched dollar for dollar by the Postal Service, and the next 2% of your contribution will be matched at a rate of 50 cents per dollar. Finally, since last July 2003, if you are age 50 or older, and you are contributing the maximum amount of regular TSP contributions for which you are eligible, then you also may elect to make additional "catch-up" contributions. Please contact your personnel office for details.
