Go through the log in guide of thrift saving plans and create account at tsp.gov by fulfilling eligibility to get benefits of general and residential loans.
The Thrift Savings Plan (TSP) is a special retirement saving and investment plan for United State’s federal employees, member of uniformed service and the Ready Reserve. TSP has been also defined as a contribution plan meaning: you will get total amount of your TSP based on how much money your put in account during your working hours and total earning accumulated over that time. Spouse beneficiary also get benefits from TSP under particular circumstances. Find out all important details that you must know and log-in procedure to manage your federal thrift savings account.
Online thrift saving plan and ThriftLine:
At official TSP site www.tsp.gov, you will get all the updates and current plan information and materials. To use various benefits of online service of TSP, user must have TSP account number or user ID and Web password.
An automated telephone service provided by TSP is coined as a ThriftLine. It is free within the United States and Canada. At ThriftLine, you will get details about the current TSP news, share prices, loan and annuity rates. One can also speak to TSP participant service representative for any kind of problems.What are the benefits to spouse beneficiary?
Spouse beneficiary of deceased civilian or uniformed services will get a chance to use benefits of TSP if they share the balance in the TSP account is minimum $200 or a beneficiary participant account has been established in your name. Besides these two conditions, you will not get any of the benefits of TSP.
Make sure you save “welcome letter” that contains information about how your account is initially invested and what you can expect from TSP as a spouse beneficiary.
Important information about thrift saving plan you must know:
In any case, if you forget your user id or password, then you can use either of it to recover your account with option to select receiving email account.
With increase in security, your TSP account will not open with 4 digit PIN. You have to change your 4 digit PIN with new password that contains 8 digit.
To change your password from 4 digit PIN to 8 digit password, log-in to your account first by your 4 digit PIN. You will be asked to change password for security purpose. Change the password to 8 digit by following instructions.
Steps to log-in your TSP account at Tsp.gov:
- Visit official site Tsp.gov
- Enter your 13-digit account number or user id
- Click on the “log-in” button
- Follow the instructions to open your account
Eligibility to create TSP account:
- A Federal Employees’ Retirement System (FERS) employee (hired on or after January 1, 1984), or
- A Civil Service Retirement System (CSRS) employee (hired before January 1, 1984 and did not convert to FERS), or
- A member of the uniformed services (active duty or Ready Reserve), or
- A civilian in certain other categories of Government service
Loans at TSP:
There are mainly two types of loans are available at TSP: General purpose loan of 1 to 5 years and Residential loan of 1 to 15 years. General purpose loans do not required any kind of document where as in residential loan; you have to provide all required documents. Minimum loan amount is $1,000.
Advantages of TSP:
- Best plan for every government officer
- 24×7 access to account at tsp.gov
- User friendly