Thrift Savings Plan for Coast Guard/NOAA Military Personnel
Topics on this page:
- TSP Procedures
- TSP Address Changes
- TSP Questions
- TSP Roth 401(k) Feature
- TSP Catch-Up Contribution Program
- Quarterly Participant Statements
- TSP Service Office Notification Upon Separation
- How Does Filing Bankruptcy Affect TSP
- TSP Releated Links
TSP Procedures
Thrift Savings Plan (TSP) is a voluntary retirement savings and investment plan. Contributions are deducted from a member's pay before taxes are computed. In addition, TSP earnings are tax-deferred.
Once enrolled there are only two options to withdraw money while in the service: Financial hardship and reaching age 59 ½ or older.
At enrollment (or reenrollment), a TSP-U-1 Election Form must be filled out. This form may be obtained through https://www.tsp.gov under Forms and Publications from the Uniformed Services section.
Fax the completed form to PPC (MAS-TSP) at (785) 339-3760 or mail it to:
Commanding Officer (MAS-TSP)
Coast Guard Pay & Personnel Center
444 SE Quincy Street
Topeka, KS 66683-3591
TSP-U-3 Designation of Beneficiary Form must be mailed to the TSP Service office:
Thrift Savings Plan Service Office
P.O. Box 385021
Birmingham, AL 35238
TSP Address Changes:
For Active Duty and Reserve members: TSP will automatically receive new address information from the U. S. Coast Guard on the first of the month following the month in which you update your address in Direct Access Self-Service.
Separated and former members: Please follow the procedures on form TSP-9, Change in Address for Separated Participant to update your address.
TSP Questions:
Questions on enrollment, reenrollment, disenrollment, deductions or form completion, contact PPC Customer Service via phone (785-339-2200) or email (Customer Care). Be sure to include your Employee ID Number.
Question on TSP investments, loans, and PINS, contact TSP Thrift Line via phone (1-877-968-3778).
Roth 401(k) Feature Expected in Second Quarter of 2012
The TSP will begin to offer a Roth 401(k) feature in the second quarter of 2012. A Roth 401(k) feature in the TSP will combine all the benefits of TSP retirement savings with the after-tax benefits of a Roth savings plan. You will not get the benefits of tax-deferred savings (an upfront tax deduction) on your Roth contributions as you do with your traditional TSP contributions, but your Roth savings will grow tax-free. When you withdraw your Roth contributions and associated earnings in retirement, you will pay no Federal income taxes on them, as long as you are at least age 59« and have been making Roth contributions for a minimum of 5 years. When the time draws near to implement the TSP Roth 401(k), the TSP will make information available to help you decide whether Roth savings will benefit you (as compared to tax-deferred savings). Direct-Access, JUMPS, the payroll systems of other agencies and the TSP record keeping and accounting systems will all have to be significantly modified to accommodate the Roth feature. The TSP expects to begin accepting contributions the second quarter of 2012.
The TSP has a Fact Sheet available with more information on the TSP-Roth option 
.
TSP Catch-Up Contribution Program:
- Members age 50 or older are allowed to contribute an additional $5,500 to TSP (beyond the IRS Elective Deferral Limit). Note: Catch-Up contributions are dollar amounts. All other contributions are a percentage of the gross pay or bonus amount.
- Catch-up program applies to members turning age 50 prior to the end of the calendar year.
- Catch-up contributions are on a pre-tax basis like other TSP contributions.
- Elections, election changes, and stops are allowed at any time beginning in the year the member turns age 50.
- Catch-up elections are made on Form TSP-U-1-C. Please note, when completing Section II, Line 7 of the form that "Pay Period" is the amount to be deducted per month, not per payday.
- Catch-up contributions are separate from regular contributions, but are combined with regular contributions on the W-2.
- Catch-up contributions are in whole dollar amounts (versus a percentage) and are a deduction from basic pay.
- Elections for catch-up contributions expire on 31 December of each year.
- If a member stops regular contributions, catch-up contributions are also stopped.
Members who desire to initially enroll in TSP, disenroll from TSP, or elect the TSP Catch-Up program must complete the applicable Tsp-U-1 (to enroll) / Tsp-U-1-C form (form for catchup contributions) and mail to PPC (MAS). Mail completed forms to PPC (MAS-TSP):
Commanding Officer (MAS-TSP)
Coast Guard Pay & Personnel Center
444 SE Quincy Street
Topeka, KS 66683-3591
TSP Contribution Limits
The TSP Web Site provides the limits for contributions: https://www.tsp.gov/whatsnew/rates/currentLimitsAndRates.shtml.
Members currently enrolled in TSP who desire to change their contribution percentage can do so through the Direct Access Self-Service application (click for procedures).
Members who desire to initially enroll in TSP, disenroll from TSP, elect the TSP Catch-Up program, or reenroll in TSP must complete the applicable Tsp-U-1 / Tsp-U-1-C form and mail to PPC (MAS). Mail completed forms to PPC (MAS-TSP):
Commanding Officer (MAS-TSP)
Coast Guard Pay & Personnel Center
444 SE Quincy Street
Topeka, KS 66683-3591
Enrollments, reenrollments and disenrollments cannot be entered in DA using self-service. Members will receive confirmation that their request has been processed via entries in the deductions and comments sections of their Leave and Earning Statements.
Coast Guard Academy cadets and non-prior service CG Naval Academy Preparatory School (NAPS) cadets are not eligible to participate in TSP until they are commissioned or reverted to enlisted status.
Quarterly Participant Statements
The Account Access section of the TSP Web site is your only source for quarterly participant statements, unless you elected to receive your statements in the mail (you can make this election using the Account Access web page). New statements are posted on the Web site after the end of each calendar quarter (i.e., March 31, June 30, September 30, and December 31). The statement shows your account balance and a detailed summary of the activity in your account during the previous reporting period. If you have a loan, your quarterly loan information will also be included on your participant statement.
The best source of information about your TSP account is the Account Access section of the TSP Web site. You will need your SSN and your PIN to access your account. Once you access your account, you can find out your daily account balance, check on your loan, see the status of a loan or withdrawal request, see what your current contribution allocation is, etc. You can also use this Web site to perform a number of transactions, such as making interfund transfers or contribution allocations, requesting a new computer-generated or custom PIN, requesting that quarterly participant statements be mailed to you, or initiating a loan or withdrawal.
TSP Service Office Notification Upon Separation
If you were participating in the TSP and are separating from the Coast Guard (Discharge, RELAD or Retirement), the Pay & Personnel Center (PPC) needs to notify the TSP Service Office. You will not be able to withdraw funds from your account until the TSP Service Office has been notified, by the Coast Guard, of your separation.
Please complete a TSP Separation Notification form, and forward it to PPC (MAS-TSP), so that we may notify the TSP Service Office of your separation from active duty.
How Does Filing Bankruptcy Affect TSP?
These fact sheets explain how a bankruptcy petition affects a Thrift Savings Plan (TSP) account, loan, or in-service withdrawal.
- Fact Sheet for Bankruptcy Petitions Filed on or after 17 October 2005
- Fact Sheet for Bankruptcy Petitions Filed before 17 October 2005
Related links:
Procedure governing TSP:
Policy governing TSP
Detailed information on TSP: https://www.tsp.gov
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