President signs bill authorizing changes to TSP for civilians
July 2nd, 2009
On June 22, President Obama signed into law the Thrift Savings Plan Enhancement Act of 2009 as part of the Family Smoking Prevention and Tobacco Control Act (Public Law 111-31).
One of the provisions of the new law eliminates the waiting period of appropriated fund civilian employees covered under the Federal Employees Retirement System to receive Agency Automatic 1 percent and Agency Matching Contributions to their TSP accounts.
Prior to enactment of the new law, new FERS employees had to wait 6 to 12 months, depending on their date of hire, before becoming eligible for agency TSP contributions. Employees covered by the Civil Service Retirement System are not eligible for agency TSP contributions.
more...
One of the provisions of the new law eliminates the waiting period of appropriated fund civilian employees covered under the Federal Employees Retirement System to receive Agency Automatic 1 percent and Agency Matching Contributions to their TSP accounts.
Prior to enactment of the new law, new FERS employees had to wait 6 to 12 months, depending on their date of hire, before becoming eligible for agency TSP contributions. Employees covered by the Civil Service Retirement System are not eligible for agency TSP contributions.
more...