Thrift Savings Plan (TSP)
The TSP is a retirement benefit that is offered to employees of the US
government. It is similar to “401K” plans available to the private sector. To
enroll, permanent full-time technicians will send a TSP-1 form to HRO. Contact
HRO if you have any questions at 432-4219. For more information on The
Thrift Savings Plan click here.
form/pubs under booklets “summary of the thrift savings plan.
“Catch-up contributions” are supplemental tax-deferred employee contributions
that employees age 50 or older (or turning age 50 during the calendar year) can
make to the their TSP beyond the maximum amount they can contribute through
regular contributions. Because catch-up contributions are supplemental, they do
not count against your regular TSP contribution or the IRS elective deferral
limit. (refer to the website below for the IRS limits). There are no agency
matching contributions. Use the TSP-1-C (Technician), TSP-U-1-C (Uniformed
Service). The forms are on the TSP website or in the HRO and Finance offices.
For further information go the TSP website at
publications and forms (booklets).
Thrift Savings Plan and Activation:
If a military member is activated, they may enroll in the Thrift Savings Plan
(Uniformed Services) within 60 days of activation. You may elect to have up to
10% of your military base pay go into this TSP. The TSP-U-1 form may be obtained
at (tsp.gov) and turned into
military pay to begin participation.
Federal Employees Health Benefit Program (FEHBP) (FOR ALL
FULLTIME FEDERAL TECHNICIANS)
5-YEAR RULE: To take your federal health insurance into retirement—when you will
really need it—you need to heed the five-year rule. It says that to qualify for
FEHBP in retirement (with some rare exceptions) you must have been enrolled in
any one of the FEHBP plans for the five years immediately prior to retirement:
That’s the last five years you work. Please pass this information to employees.
Federal Employees Dental and Vision Insurance Program (FEDVIP)
FEDVIP provides comprehensive dental and vision insurance. New employees have 60
days to sign up, otherwise you must wait for an open season. Click here for more
Flexible Spending Account Program (FSAFEDS)
A Flexible Spending Account (FSA) is a tax-favored program offered that allows
fulltime technicians to pay for eligible out-of-pocket health care and dependent
care expenses with pre-tax dollars. New employees have 60 days to sign up. There
is an open season each November to sign up. You must reenroll every year. Click
here for more info.
The National Guard Bureau has recently published a new "National Guard
It is suggested that all personnel become familiar with its contents. It is
located on the HRO Web Page under “Technician Page”.