Browsing: matching funds

Q: I plan on withdrawing money from my Thrift Savings Plan account for a residential loan. Can I continue my contributions and receive matching funds during the repayment period? Also, is it required that repayment is done through payroll deduction? As I intend to pay back the loan in 20 months from my wife’s income, I prefer to pay directly by check each month. A: You may continue to contribute and receive matching contributions while repaying your loan. Your loan must be repaid through payroll deduction.

Q: I am currently on military leave without pay from the U.S. Postal Service and have been on active duty with the Air Force for about 12 months. When I was with the USPS, I was contributing 5 percent to the Thrift Savings Plan and receiving the available agency matching funds. During my period of active duty, I have been contributing 10 percent to the TSP with no matching funds. What are the rules or regulations with regards to agency matching funds upon my return to the USPS? Specifically, would I be eligible for any agency matching contributions during the…

Q: Do you know of any provisions in the Federal Erroneous Retirement Coverage Corrections Act that allows one to get a Thrift Savings Plan loan with agency matching funds in their TSP account? In April, while employed with the Department of the Army, the Army Benefit Center informed me that I was entitled to retirement plan corrective action under FERCCA. In July, I submitted my FERCCA election form to enroll me into Civil Service Retirement System Offset retirement coverage from the Federal Employees Retirement System. ABC sent letters to my previous employers notifying them of this change and informing them…