Starting a TSP Account
The first contribution to the TSP establishes your account. If you are a FERS employee hired (or a FERS or CSRS employee rehired) after July 31, 2010, your agency has automatically enrolled you in the TSP, and 3% of your basic pay is deducted from your paycheck each pay period and deposited in your TSP account, unless you make a contribution election (page 3) to stop or change your contributions. If FERS, you also get contributions from your agency so that a total of 7% of basic pay goes into your TSP account each pay period. See “TSP Contributions” below.If you are a FERS employee hired before August 1, 2010, you already have a TSP account with accruing Agency Automatic (1%) Contributions. You must make a contribution election (page 3) to start contributing your own money to your account and to receive Agency Matching Contributions. See “TSP Contributions” below.
If you are a CSRS employee or a member of the uniformed services, you can make a TSP contribution election (page 3) at any time through your agency or service to establish a TSP account. You do not receive agency contributions.
There are three sources of TSP contributions:
• Employee Contributions
• Agency Automatic (1%) Contributions
• Matching Contributions