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IRS Form 1099-R In mid-January, the TSP will mail IRS Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., to participants who received a withdrawal between January 1 and December 27, 2023, and/or a taxed or foreclosed loan between January 1 and News and Resources | The Thrift Savings Plan (TSP) tsp.gov news-and-resources tsp.gov news-and-resources
If you are 591/2 or older, you can make withdrawals from your TSP account while you are still employed . You must pay income tax on the taxable portion of your withdrawal unless you roll it over to an IRA or other eligible employer plan . Withdrawals In-Service - Thrift Savings Plan tsp.gov publications tspbk12 tsp.gov publications tspbk12
There are three ways to change the way money in your TSP account is invested: investment election, reallocation, and fund transfer. You can complete these transactions by logging in to My Account or by using one of the ThriftLine options.
Before completing this form, please read the Summary of the Thrift Savings Plan and the instructions on the back of this form. Type or print all information. Return the completed form to your agency personnel or benefits office. Your agency should return a copy to you after completing Section V.
Traditional TSP contributions are deducted pre-tax; taxes are deferred until you withdraw your contributions. Defense Finance and Accounting Service TSPAC DFAS (.mil) TSPAC DFAS (.mil) TSPAC

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If you have a 401(k) or TSP through your employer, your contribution is reported in Box 12 of your W-2 with the letter code D. Because your contribution is included in your W-2, do not re-enter it in the retirement section.
With traditional TSP, your contributions go into the TSP before tax withholding, which can potentially lower your current income tax rate. But when you take money from your traditional TSP, youll pay taxes on both your contributions and earnings at the income tax rate of the year you make the withdrawal. Traditional and Roth TSP Contributions tsp.gov making-contributions traditional tsp.gov making-contributions traditional
In most cases, youll use your services electronic payroll system to start, change, or stop your TSP contributions. Use this form (TSP-U-1) to start, stop, or change your contribution amount (including any contribution toward the catch-up limit if youre age 50 or older).

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