Thrift Savings Plan Change

Great News for TSP Participants: No More 30-Day Wait Between Withdrawals!

Effective May 15, 2024, the 30-day waiting period between withdrawal requests has been eliminated!

Previously, participants who wanted to make multiple withdrawals from their TSP account had to wait 30 days after initiating the first request before submitting another. This could be inconvenient and limit your ability to access your funds when needed.

While the waiting period is gone, it's crucial to remember that TSP withdrawals may be subject to taxes and penalties. Carefully consider these implications before making a withdrawal. The TSP website offers resources and withdrawal calculators to help you understand the potential tax impact.