Help for Hurricane Irma victims

By Newsroom America Feeds at 13 Sep 2017

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Help for Hurricane Irma victims The TSP has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricane Irma: As of September 13, 2017, we will treat any Financial Hardship In-Service Withdrawal Request as a qualifying hardship and will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal provided one of the following is true: * Your primary residence or place of employment is located in a covered disaster area has incurred a loss as a result of Hurricane Irma.


* Your hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and who has incurred a loss as a result of Hurricane Irma. *IN ADDITION*, you must also meet *all* of the following requirements: * You must be actively employed as a federal civilian or a member of the uniformed services. * You must complete Form TSP-76, "Financial Hardship In-Service Withdrawal Request". * You must write Hurricane Irma at the top of page 1 above the name of the form. * You must check the Personal Casualty Loss box on page 2, Item 18 of your request form, as the reason for requesting financial hardship. * Your request must be *received in our office* by January 24, 2018 *and*, in compliance with IRS guidelines, your distribution must occur before January 31, 2018. Any Financial Hardship In-Service Withdrawal Request forms received after January 24, 2018 will be processed as a standard hardship withdrawal, and your TSP contributions will automatically stop for 6 months. *If you want to stop your TSP contributions*, complete Form TSP-1, "Election Form" (Form TSP-U-1 for uniformed services) or use your agency or services automated system. This rule change is not retroactive and all other Form TSP-76 rules apply. Participants may only receive one hardship withdrawal under this change. If you have questions about this change, call the toll-free ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, please call 404-233-4400 (not toll free).

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