Thrift Savings Plan Reminders for 2010

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By MyFederalRetirement
Posted: 01-16-2010



The Thrift Savings Plan (TSP) has released a few alerts and reminders to its participants for 2010.

Form 1099-R

IRS Forms 1099-R will be mailed by January 31 to participants who received withdrawal or other taxable distributions during 2009. They will also be posted on the TSP website at The Official TSP Home Page, maintained by FRTIB; 2008-05-22. Paerticipants should make sure the TSP has their correct address. If a a participant has an address change or are separated from service, they should change it in Account Access of the website, or call the ThriftLine and speak to a TSP service representative. Active employees should contact their agency or service.

Required minimum distributions

The law that suspended 2009 Required Minimum Distributions has not been extended. Required Minimum Distributions resume in 2010.

IRS contribution limits

For 2010, civilian federal employees may contribute up to $16,500 in tax-deferred money to the TSP. If the employee will be age 50 or older during 2010, they may also contribute up to $5,500 in additional "catch-up" contributions if they expect to reach the $16,500 limit in 2010.

Annual participant statements

The TSP will begin mailing annual participant statements in February. This statement summarizes the activity in your account during 2009 and provides other useful account information.

Posted with Permission from: MyFederalRetirement.com