TSP agency contributions


Q. I was hired into federal service Sept. 28, 1992. At this point, shouldn’t the government have started contributing to a Thrift Savings Plan account in my name 1 percent of my salary automatically? Contributions didn’t begin until I manually enrolled in TSP a year later.

This seems to be the bit from the TSP website that applies to me:

“If you are a FERS participant and were hired before Aug. 1, 2010:

* The TSP would have begun receiving automatic contributions equal to 1% of your pay from your agency — beginning with your first pay period. If you contribute your own money, your agency will send matching contributions to the TSP (on up to 5% of your contributions per pay period).”

Did someone screw up? Is there any recourse to get those initial contributions plus interest? Or have I misread everything?

A. Check with your agency. There have been varying waiting periods for TSP agency contributions in the past.


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.

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