Thrift Savings Plan Open Season in text form Date: Wed, 01 May 1996 14:49:39 -0400 From: "Raymond F Munch II, Computer Specialist, Reston, VA" THRIFT SAVINGS PLAN OPEN SEASON MAY 15, 1996, THROUGH JULY 31, 1996 Open season for the Thrift Savings Plan (TSP) begins May 15, 1996, and ends July 31, 1996. During open season, you may begin contributing to the TSP, change the amount of your TSP contributions, or allocate TSP contributions to your account among the three investment funds. This is true whether you are covered by the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS). You may invest all or any portion of your TSP contributions in any of the three TSP investment funds: the Government Securities Investment (G) Fund; the Common Stock Index Investment (C) Fund; and the Fixed Income Index Investment (F) Fund. Who is eligible? You may make a TSP election this open season if you were newly hired in a position covered by FERS before January 1, 1996, or if you were rehired into a position covered by FERS or CSRS after a break in service of at least 31 days and were previously eligible to participate. If you stopped your TSP contributions no later than January 31, 1996, you may resume your contributions during this open season. If, however, you stopped your contributions after January 31, you may not begin contributing again until the next TSP open season which begins November 15, 1996. How the investment opportunity affects FERS employees. Even if you are not making employee contributions, you may still make a TSP election to invest all or any portion of your Agency Automatic (one percent) Contributions in any of the three funds. This is true even if you are not able to make an election to contribute this open season because you stopped contributing after January 31, 1996. If you are making employee contributions, your investment election applies to all contributions to your TSP account, i.e., employee, Agency Automatic (one percent), and Agency Matching Contributions. How to make an open season election. Submit a completed Election Form, TSP-1 (dated 2/91 or 9/90), to your servicing personnel office. You can obtain this form from that office. When open season elections become effective. If the servicing personnel office accepts your election before July 6, 1996, it will be effective July 7, 1996. Your earnings statement dated August 1, 1996, will reflect this election. If you make an open season election after this date, it will be effective on the first day of the subsequent pay period after it has been accepted by the servicing personnel office. 2 Where to get more information about the TSP. The booklet "Summary of the Thrift Savings Plan for Federal Employees," revised July 1995, describes the TSP in detail. If you do not have a copy of this plan summary, call your servicing personnel office. Please read the booklet before making a TSP election. In addition, your personnel office has other pamphlets and handouts on the TSP which you will find informative. Designation of Beneficiary Forms The Thrift Savings Plan Designation of Beneficiary Form, TSP-3, was revised in November 1994 and all previous editions are obsolete. All TSP-3's must be sent directly to the Thrift Savings Plan Service Office, National Finance Center, P.O. Box 61135, New Orleans, Louisiana 70161-1135. If you have any questions about the TSP, please call your servicing personnel office. The personnel office address, phone number, and person to call are listed below: Judy Huffman, (703) 648-7428 Headquarters Personnel Office, Mail Stop 601 12201 Sunrise Valley Drive Reston, Virginia 22092 Emily Alexander, (303) 236-5900, X352 Central Region Personnel Office, Mail Stop 609 Denver Federal Center, P.O. Box 25046 Lakewood, Colorado 80225 Michele Bollier, (415) 329-4096 Western Region Personnel Office 345 Middlefield Road, Mail Stop 612 Menlo Park, California 94025 Dian Reeves, (770) 409-7752 Southeastern Region Personnel Office 3850 Holcomb Bridge Road, Suite 160 Norcross, Georgia 30092 William F. Gossman, Jr. Acting Chief, Office of Program Support Distribution: E cc: Official File - MS 601 Personnel Officer - MS 601 B/ELMR Reading USGS:OPS:CJHuffman:lv:4/19/96:(703)648-7428:TSPADM.CJH Date: CORRESPONDENCE BRIEF Subject Administrative Digest on Thrift Savings Plan (TSP) Open Season Reason To remind employees about the current TSP open season. Background and Summary Twice yearly, the Thrift Board sponsors an open season during which eligible Federal employees may begin contributing to, or adjust their level of contribution and their distribution of investments in the TSP. The current open season begins May 15, 1996, and runs through July 31, 1996. The attached digest reminds employees of the dates of the open season, what actions they may take, and who is eligible to participate in the open season. It also briefly describes the investment options and tells people how to make changes, when they are effective, and how to get more information. Coordination Judy Huffman, Branch of Employee/Labor Management Relations, Office of Personnel Recommended Action Signature by the Acting Chief, Office of Program Support Richard C. Williams Acting Personnel Officer 7442 Attachment