What is the procedure after you transfer to FERS?
What is the procedure after you transfer to FERS?
What is the procedure after you transfer to FERS?
"Your agency automatic contributions of one percent will begin immediately and if you are contributing your own money, so will your agency matching contributions.
"In addition, you have 30 days from the effective date of your transfer to FERS to make a new TSP election. If you are not already contributing to the TSP, you may elect to begin contributing, or allocate the investment of your agency automatic contributions. If you are contributing, you may elect to change the amount or investment of your TSP contributions. In other words, you have your own personal 30-day open season to make a TSP election. Your agency must make your TSP election effective the first pay period after it receives it. You may also turn in your TSP election along with your FERS transfer election. In that case, your TSP election would become effective the same day as your transfer to FERS."
-Thrift Savings Plan Liason Specialist Patty Muller
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