TSP Makes Enrollment Changes for 2006

Effective in 2006, civilian and military employees may contribute the full amount to their Thrift Savings Plan (TSP) accounts that is allowed by the Internal Revenue Service ($15,000 for 2006). They may start, change, stop or resume their TSP contributions at any time (except those in the 6-month non-contribution period following a financial hardship in-service withdrawal). Service members also may invest all or part of their bonuses, special pay or incentive pay, as long as they contribute from basic pay. Those serving in tax-free combat zones are allowed up to $44,000 in annual contributions. Military participants can enroll or change their contribution amount at https://mypay.dfas.mil/mypay.aspx, or by filling out a form TSP-U-1 at local finance offices. They can change contribution allocations by calling 1 (877) 968-3778 from the 50 States, Virgin Islands, Puerto Rico, Guam, American Samoa and Canada; calling 1 (404) 233-4400 from elsewhere, or visiting www.tsp.gov.