A Reminder to Check Your TSP Beneficiary Designations
Thrift Savings Program investors will recall the new records management system that was implemented last summer.
During that transition, beneficiary information for some investors was not carried over from the old system into the new system.
While TSP has maintained all of your previously entered beneficiary information on file and it remains valid, it is recommended that TSP account holders log in and check their beneficiary status. If your account shows the beneficiary designations as blank, it is important that you re-enter your beneficiary designations.
The TSP-3 Designation of Beneficiary Form is one of a long list of TSP forms that have been replaced and are being handled differently. Earlier this month, the Federal Retirement Thrift Investment Board announced new forms and online tools and declared prior versions of some old forms obsolete. The new TSP forms are no longer generic and are now barcoded for individual participants.
“If a participant submits an obsolete form, they will not hear back from us, and we are unable to process their transaction,” according to the TSP Bulletin.
Read the TSP Bulletin for a complete list of the new forms.