FEDweek

TSP Loosens Hardship Withdrawal Policies Due to Wildfires

The TSP has temporarily loosed policies regarding financial hardship withdrawals for federal employees who have incurred financial losses due to the California wildfires, or who wish to make a withdrawal to help an affected relative.

Through March 8, the TSP will waive the normal requirement to document a financial hardship; they should write “California wildfires” at top the first page of the hardship withdrawal form, the TSP-76, and “personal casualty loss” as the reason for requesting the withdrawal. Also, the TSP will waive the normal policy barring further investments for the six months after taking such a withdrawal.

The TSP previously made similar changes related to Hurricanes Harvey, Irma and Maria; it originally set a January 24 deadline for making such requests related to all three but has extended it until March 8 for those related to Maria.