TSP temporarily changes hardship withdrawal rules

As of Sept. 13, the Thrift Savings Plan has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricanes Harvey and Irma. If a participant's primary residence or place of employment is located in a covered disaster area and has incurred a loss as a result of Hurricanes Harvey or Irma, the TSP will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal. The rule also applies if the participant's hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and has incurred a loss as a result of Hurricanes Harvey or Irma.

For a list of additional requirements participants must meet, employees can check the Plan News and Announcements section of the TSP website.