TSP overpayment


Q: I recently paid my loan off but I overpaid it. Will TSP send the remaining balance back to me, or will they put it into my TSP account?

A: Since you are not permitted to simply deposit money to your TSP account, the amount should be refunded to you. You should contact the TSP to advise them of the situation and make sure they refund the overpayment.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

Leave A Reply