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TSP loans can help federal employees cover big expenses. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Mail ...
There is a processing fee per loan which is taken out of the loan proceeds (the amounts are $100 for a residence loan and $50 for a general-purpose loan). If the employee or service member is married the spouse (even if separated) must consent to the loan.
The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world. As of August 2021, the board manages $794.7 billion in assets on behalf of 6.4 ...
For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution.
Starting loan balance. Monthly payment. Paid toward principal. Paid toward interest. New loan balance. Month 1. $20,000. $387. $287. $100. $19,713. Month 2. $19,713. $387
The Thrift Savings Plan (TSP) is a defined contribution plan that is available only to military service members and federal employees. It is similar to the 401(k) plans offered by many private ...
TSP participants may hold two loans at the same time and pay them back through payroll deductions, and may pay off a loan early and immediately request a new loan. [41] [42] The Board felt the loan program was partially responsible for the slowdown during the launch of the new-record keeping system. [40]
Loan information: This section should match your loan estimate. Loan amount: Note that the loan amount can change, for example, if your closing costs were rolled in.