Q. Suppose a TSP participant passes away and listed on their TSP-3 beneficiary form that there are allocations of 34 percent to the spouse, 33 percent to the daughter, and 33 percent to the son. Does the spouse have a beneficiary participant account (BPA) with the 34 percent allocation in the age appropriate L Fund, and do the children each receive a lump-sum payment of 33 percent?
A. A spouse beneficiary of at least $200 will automatically be provided a BPA that they will need to manage. The others will receive lump-sum distributions of their shares.
