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6:09 pm, September 2, 2014

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TSP loans, hardship withdrawals hit 10-year high last year

More Thrift Savings Plan participants withdrew money from their accounts early in 2013 than in any other year over the past decade. The board processed a total of 291,000 loans and about 138,000 hardship withdrawals last year, according to statistics presented at the board's monthly meeting Monday. More than 14,000 of the hardship withdrawals taken last year came during the month of October, when partisan gridlock led to a 16-day government shutdown and financial uncertainty and delayed paychecks for thousands of federal employees.

Tags: TSP , pay and benefits , TSP loans , Jack Moore , Kim Weaver , Renee Wilder

Monday - 01/27/2014, 03:24pm EST
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Feds who took TSP withdrawals during shutdown locked out of contributing for next six months

During the 16-day government shutdown last month, more than 14,000 Thrift Savings Plan participants withdrew money from their accounts, the highest number of hardship withdrawals in a single month ever. This may have helped participants weather the financial uncertainty of the shutdown. But, under TSP rules, it also means they'll be unable to contribute to their 401(k)-style retirement accounts for the next six months. Now, the Federal Retirement Thrift Investment Board, which oversees the TSP, is concerned that not all those participants will take the initiative to restart their contributions when the penalty period expires next spring.

Tags: pay and benefits , benefits , TSP , workforce , government shutdown , Michael Kennedy , Greg Long , Renee Wilder , Kim Weaver , Jack Moore

Monday - 11/25/2013, 03:26pm EST

Sequestration and your finances

Certified Financial Planner John Jilek answers your questions about how sequestration and furloughs would affect your TSP.
March 11, 2013

Tags: pay and benefits , sequestration , furloughs , TSP , retirement , Bob Leins , John Elliott , John Jilek , Edward Jones , For Your Benefit

Monday - 03/11/2013, 09:41pm EDT
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More take hardship withdrawals from retirement accounts

We get the inside scoop from Mike Causey.

Tags: pay and benefits , Mike Causey , TSP , DorobekInsider

Tuesday - 08/24/2010, 03:13pm EDT
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