TSP-1 2012 free printable template

ORIGINAL TO PERSONNEL FOLDER Provide a copy to the employee and to the payroll office. Form TSP-1 10/2012 PREVIOUS EDITIONS OBSOLETE TSP-1 INFORMATION AND INSTRUCTIONS GENERAL You may start stop or change your contributions at any time. THRIFT SAVINGS PLAN TSP-1 ELECTION FORM Use this form to start stop or change the amount of your contributions to the Thrift Savings Plan TSP. Tsp.gov. To choose your investment fund s use the TSP website www. tsp.gov or the ThriftLine at 1-TSP-YOU-FRST...

How to fill out form tsp-1 election form

How to fill out form tsp-1 election form:

1. Gather all the necessary information such as your name, social security number, and contact details.
2. Read the instructions carefully to understand the purpose and requirements of the form.
3. Fill in your personal information accurately, including your name, address, and date of birth.
4. Indicate your employment status and provide any relevant employment details if applicable.
5. Choose your desired contribution allocation and specify the percentage or dollar amount for each investment option.
6. If you want to make catch-up contributions, provide the necessary details in the designated section.
7. Review the completed form for any errors or missing information, ensuring that all sections are filled out correctly.
8. Sign and date the form appropriately.
9. Send the completed form to the appropriate address as instructed in the form's guidelines.

Who needs form tsp-1 election form:

1. Federal civilian employees who are eligible for the Thrift Savings Plan (TSP) need to fill out form tsp-1 election form.
2. This form is necessary for employees who want to establish a TSP account, make contributions, or change their contribution allocation.
3. It is also required for those who wish to make catch-up contributions, which are additional contributions allowed for individuals aged 50 and over.

Instructions and Help about form tsp-1 election form

People Also Ask about form tsp-1 election form

How do I download TSP forms?

When you log in to My Account, you'll find tools and instructions to request withdrawals and distributions, designate beneficiaries, change your TSP investments, and more. On this page, you can view and download publications and fact sheets with detailed information about your Thrift Savings Plan options and benefits.

What is a TSP 1 form?

TSP-1. ELECTION FORM. ORIGINAL TO PERSONNEL FOLDER Provide a copy to the employee and to the payroll office. Use this form to start, stop, or change the amount of your contributions to the Thrift Savings Plan (TSP).

What form do I need to rollover my TSP to an IRA?

Filling Out Form TSP-70 Request for Full Withdrawal. If you are doing a full withdrawal (transfer or rollover of the entire contents of your TSP), then you will need to fill out pages 1, 2, and 4 (Traditional Balance) and/or Page 5 (Roth Balance).

What is TSP 1 form used for?

Election Form for federal civilian employees (TSP-1) (66kb) Use this form (TSP-1) to start, stop, or change your contribution amount (including any contribution toward the catch-up limit if you're age 50 or older). Return the completed form to your agency's benefits/payroll office.

How do I change my TSP election?

You may also make the change through the ABC-C automated telephone system by calling 1- 877-276-9287 and following the telephonic prompts. If I change my TSP contribution. when will it be effective? Changes to your TSP amount or percentage will be effective the 1 st day of the next pay period.

How should I allocate my TSP contribution?

Here's the ratio we recommend for your portfolio: 80% in the C Fund, which is tied to the performance of the S&P 500. 10% in the S Fund, which includes stocks from small- to mid-sized companies that offer high risk and high return. 10% in the I Fund, an international fund that invests in stocks from overseas companies.

How do I make a TSP election?

To make this request, log in to My Account or use the ThriftLine Service Center. We must receive your request within 90 days of your first contribution. Complete this section to start your TSP contributions or to change the amount and type of contributions.

What is a TSP 1 form?

Election Form for federal civilian employees (TSP-1) (66kb) Use this form (TSP-1) to start, stop, or change your contribution amount (including any contribution toward the catch-up limit if you're age 50 or older). Return the completed form to your agency's benefits/payroll office. Posted: May 2022 • 2 Pages.

What is the TSP election for 2023?

You may enroll in the TSP program or make contribution changes at any time; however, if you wish your contribution deductions to begin the first pay date in 2023, you must make your TSP election effective for pay period 26 (December 18, 2022, through December 31, 2022), which has a pay date of January 12, 2023.

Is TSP enrollment automatic?

Because you are automatically enrolled in the TSP, effective your first pay period, SSA will make Agency Matching Contributions to your TSP account. Even if you stop contributing your own money, SSA will make Agency Automatic Contributions that will equal 1% of the basic pay you earn for the pay period.

For pdfFiller’s FAQs

Who is required to file form tsp-1 election form?

The TSP-1 election form should be filed by federal employees who are eligible to participate in the Thrift Savings Plan (TSP) and wish to make an election regarding their contributions to the plan.

What is the purpose of form tsp-1 election form?

Form TSP-1, also known as the "TSP Election Form," is used for making decisions about contributions and investment options for the Thrift Savings Plan (TSP). TSP is a retirement savings and investment plan for federal employees and members of the uniformed services. The purpose of Form TSP-1 is to provide individuals with the opportunity to make certain elections and decisions regarding their TSP account. This form includes options such as choosing the type of contributions (traditional or Roth), allocation of contributions among different funds, and selecting the percentage of pay to be contributed to TSP. It also allows participants to specify changes in their investment allocations over time. By filling out this form, individuals can tailor their TSP account to their specific retirement goals and financial situation. It helps ensure that contributions are invested in accordance with their preferences and risk tolerance while providing potential tax advantages.

What is the penalty for the late filing of form tsp-1 election form?

There is no specific penalty mentioned for the late filing of Form TSP-1 Election Form. However, it is recommended to file the form within the prescribed time frame to ensure proper processing and to avoid any potential delays or complications with your Thrift Savings Plan (TSP) account. It is always best to reach out to the Thrift Savings Plan or a financial advisor for specific guidance regarding form filing and any potential penalties.

What is form tsp-1 election form?

Form TSP-1, also known as the "TSP Election Form," is a document used by federal government employees to make certain elections or changes regarding their Thrift Savings Plan (TSP) account. The TSP is a retirement savings and investment plan available to federal employees and members of the uniformed services. The Form TSP-1 allows participants to specify the following: 1. Type of Contribution: Participants can choose between traditional (pre-tax) contributions, Roth (after-tax) contributions, or a combination of both. 2. Contribution Amount: Participants can indicate the percentage or dollar amount of their salary they wish to contribute to their TSP account. 3. Catch-Up Contributions: For participants aged 50 or older, this section allows them to elect to contribute additional catch-up contributions beyond the regular contribution limits. 4. Agency/Service Automatic (1%) Contributions: Participants can choose to receive automatic contributions from their agency or service. This is applicable for employees who joined federal service before 1 August 2010. 5. Contribution Allocation: Participants can select how their contributions are allocated among different TSP funds. 6. In-Service Withdrawal Elections: Participants can elect to make in-service withdrawals from their TSP account subject to specific conditions. The Form TSP-1 is submitted to the Thrift Savings Plan agency and can be filled out electronically or manually. It is important for federal employees to review the form carefully and consult with a financial advisor if needed before making any elections or changes to their TSP account.

How to fill out form tsp-1 election form?

To fill out the TSP-1 Election Form, you can follow these steps: 1. Download the TSP-1 form from the official website of the Thrift Savings Plan (TSP). 2. Print the form or open it in a PDF editor on your computer. 3. Start by providing your personal information, including your name, Social Security Number, and date of birth in the appropriate sections. 4. Select your election type by checking the box next to your choice. The options available are "Traditional (tax-deferred) balance," "Roth (after-tax) balance," or "Both." 5. If choosing the "Both" option, specify the percentage or dollar amount you want to allocate to each balance type. 6. In case you are transferring funds from another eligible retirement plan, you will need to provide details of the transferring account. 7. If you want to allocate your contributions among the TSP funds differently from the standard allocation, you can specify your desired percentages or dollar amounts in the "Contribution Allocation" section. 8. If you wish to allocate any retroactive contributions differently, you can also specify that in the "Contribution Allocation" section. 9. Review the information you entered to ensure accuracy and make any necessary corrections. 10. Sign and date the form at the bottom. 11. Submit the completed form to your payroll office or employer's human resources department, as they will update your TSP account based on your election. Note: It's always advisable to consult a financial advisor or the TSP website for additional guidance specific to your circumstances when making decisions regarding retirement savings.

What information must be reported on form tsp-1 election form?

On Form TSP-1 Election Form, the following information needs to be reported: 1. Personal Information: This includes your full name, Social Security number, and date of birth. 2. Agency and Employment Information: This section requires you to provide details about your federal agency or service, including your employing office and the type of appointment (e.g., career, term, temporary, etc.). 3. Contact Information: You need to state your current mailing address, email address, and phone number. 4. TSP Participation: Indicate whether you are currently participating in the Thrift Savings Plan (TSP) or if you are making your first contribution. If you are already participating, provide your TSP account number. 5. Contribution Allocation: Specify the percentage or dollar amount you want to allocate to each fund within the TSP (e.g., G Fund, F Fund, C Fund, S Fund, or I Fund). The total allocation should equal 100% or the dollar amount you plan to contribute. 6. Catch-Up Contributions: If you are age 50 or older and wish to make additional catch-up contributions, you need to indicate the amount or percentage you want to contribute. 7. Rollovers: If you have funds from another retirement savings plan that you want to rollover into your TSP account, you must provide the details of the previous plan, such as the financial institution's name and address. 8. Signature and Date: The form must be signed and dated to certify that all the information provided is accurate. It is important to review the instructions and guidelines associated with the specific version of Form TSP-1 provided by the Thrift Savings Plan agency to ensure all required information is included.

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