Important 2014 TSP Dates

Important 2014 TSP Dates for Federal Employees

The TSP will be closed during the holiday season.  As a Federal employee you should pay special attention to the dates below if you intend to make any changes to your TSP account.

December 15 – This is the last date you can your monthly payments for the year. Federal Employees must be in monthly payment status for this to take effect.

December 18

• Also Read: 3 Reasons Certain Federal Employees Can Retire Years Earlier Than Their Peers Without Penalties
• Also Read: CSRS Retirement in 2024: Are You Making the Most of What This Classic Plan Has to Offer?
• Also Read: Roth IRA Basics for Beginners: What’s There to Learn?

— monthly TSP payments, which are normally processed between December 19 and December 31 will instead be processed on December 18 due to the holidays.  These payments will be reported to the IRS on your 2014 tax returns.

December 19 – TSP Beneficiaries will have their final Required Minimum Distribution processed on December 19. These payments will be reported to the IRS on your 2014 tax returns.

December 22 – Civilian and uniformed service participants will have their Residual Required Minimum Distributions for 2014.  These payments will be reported to the IRS on your 2014 tax returns.

December 25 — The TSP will be closed on December 25^th due to Federal Holiday observance. Any transactions that would may been processed on December 25 will, instead, be processed on December 26^th.

December 26 — Withdrawals processed through December 26^th will be reported to the IRS on your 2014 tax returns.

December 29 – Any withdrawals or distributions processed on or after December 29^th will be reported to the Internal Revenue Service as income for 2015.

January 1, 2015 – The TSP will be closed on January 1 due to the Federal holiday.

Other TSP Related Articles

Understanding the Thrift Savings Plan, by Todd Carmack

Financial Advisors and Federal Employees

Sources of Federal Retirement Income