Tue. Jul 23rd, 2024

Year-end processing schedule for TSP released

December 15, 2023

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The Thrift Savings Plan has announced its holiday schedule:

• Dec. 15: December installment payments will be processed and reported to the IRS as 2023 income.

 Dec. 20: Any 2023 required minimum distributions (RMDs) for civilian, uniformed services and beneficiary participants who have a remaining RMD balance will be processed. These payments will be reported to the IRS as 2023 income.

• Dec. 25: The Thrift Savings Plan will be closed. Transactions that normally would be processed Monday night (Dec. 25) will be processed Tuesday night (Dec. 26) at Tuesday’s closing share prices.

 Dec. 27: Withdrawals processed through Dec. 27 wi ll be disbursed and reported to the IRS as 2023 income.

 Dec. 28: Withdrawals processed on Dec. 28 and after will be reported to the IRS as 2024 income.

 Jan. 1: The Thrift Savings Plan will be closed. Transactions that normally would be processed Monday night (Jan. 1) will be processed Tuesday night (Jan. 2) at Tuesday’s closing share prices.

Employees can access PostalEASE through LiteBlue to change the amount contributed to the Thrift Savings Plan.

Employees can make changes to their Thrift Savings Plan investments by going to www.tsp.gov.

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