Marketing and Regulatory Programs
Current employees covered by the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS and CSRS-Offset) are eligible to contribute to the TSP.
Only employees covered by the Federal Employees Retirement System (FERS) are eligible to receive Agency contributions. If you are a FERS employee, your agency makes two types of contributions to your TSP account:
Here’s how it works:
Amounts that you contribute above 5% are not matched, however, you will still benefit from before-tax savings and tax-deferred earnings on your contributions.
This is FREE money to you. Take advantage of it by contributing to the TSP!
If you are a new employee hired or rehired with a break in service of more than 30 days, on or after August 1, 2010, you will be automatically enrolled in TSP and will have 3% of your basic pay withheld from your salary beginning your first pay period. The contributions will be invested in the G Fund until you make elect to change your fund allocation, complete an interfund transfer, and/or elect to receive a refund.
All employees eligible to participate in TSP may start to contribute at anytime.
You may elect to stop contributing to your TSP account by submitting a completed TSP-1, TSP Election Form, electing to terminate contributions to the Human Resources Office by fax at (612) 336-3545, or by mailing the form to: USDA APHIS MRPBS HRD, Benefits Section, Butler Square, 100 N. 6th St., Minneapolis, MN 55403-1588. If your TSP-1, electing to terminate your contributions, is received in Minneapolis by the end of your first pay period you will not have any contributions withheld.
If you have contributions withheld, you will receive a TSP Welcome Letter once your account is opened at the TSP office. You may apply for a refund of contributions by submitting a completed TSP-25, Request for Automatic Enrollment Refund, to the TSP Office no later than the refund deadline provided in the letter.
To learn more about choosing which type of contributions may be right for you, check out the AgLearn course, Plan Your Savings Strategy with the New TSP.
The total amount that you may contribute is capped by the Internal Revenue Service's annual elective deferral limit: $17,500 in 2013.
The pay year for for 2013 begins December 16, 2012, (pay period 26/12) and ends on December 14, 2013 (pay period 24/13). For example, if you want to contribute the maximum contributions in 2013, and if you will be paid every pay period, you will want to divide your TSP contributions ($17,500) by 26 pay periods, and make your TSP contribution election of $674 per pay period effective beginning pay period 26/12.
Calculator Instructions (PDF)
You can enroll, change, or stop your Thrift Savings Plan (TSP) contribution amount at any time, but you may make only ONE transaction per pay period. You may choose one of the following ways to process your transaction:
Complete the form, print it, sign it, and FAX it to (612) 336-3545, or mail it to:
DO NOT mail the TSP-1 form if you have FAXED it. DO NOT complete a TSP-1 form if you used NFC's Employee Personal Page for the same transaction. You may make only one transaction per pay period.
TSP elections generally become effective at the beginning of the following pay period, however, transactions processed through NFC EPP may be effective in the pay period it is processed.
All FERS employees are immediately eligible for Agency contributions. H.R. 1256 enacted into law on June 22, 2009, eliminated the waiting period.
If you will be age 50 or older this year, and if you will contribute the maximum limit to the TSP ($17,500 in 2013), you may be able to make an additional $5,500 in catch up contributions to the TSP in 2012. For more information, go to https://www.tsp.gov/planparticipation/eligibility/contributionLimits.shtml
TSP Catch Up elections do not carry over from year to year. To participate, you must make a new TSP Catch Up election at NFC’s Employee Personal Page, or by using the TSP-1-C form.
Read about the TSP investment funds on https://www.tsp.gov/investmentfunds/investmentFunds.shtml
You may invest in any or all of the TSP investment funds. You may use one of the following ways to change the investment of future contributions to your TSP account (contribution allocations) or to change the investment of money already in your account (interfund transfer):
The TSP Service Office will send you a confirmation of your investment allocation request when it has been processed. You are required to review your quarterly TSP Participant Statement and report any errors within 30 days.
Link to the Thrift Savings Plan web site for complete information on the Thrift Savings Plan, including TSP forms and publications, current rates of return, access to your own TSP account, on-line calculators to estimate future account balances and TSP annuities, a retirement savings planner, and how the TSP is changing. Find out about the new Lifecycle Funds!
(For employees of USDA Marketing and Regulatory Programs and the Merit Systems Protection Board)
Last Modified: November 14, 2012