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: Are You Eligible for the Federal Employee Retirement System (FERS)? Find Out Here
• Also Read: Why TSP Withdrawal Options Might Be More Flexible Than You Think for Federal Retirees
• Also Read: The Top Federal Employee Benefits You Should Be Tapping Into Right Now

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