TSP: Big changes are on the way

Big changes are coming for the 5.1 million active and retired feds and military personnel with Thrift Savings Plan accounts.

The major one involves making it easier for TSP participants to make withdrawals from their accounts. Current rigid withdrawal rules are one of the primary reasons that 40 percent of the people who leave government withdraw all their money from the $542.4 billion retirement account.

Today on our Your Turn show, Kim Weaver, director of External Affairs for the TSP, talks about the changes, and what people shouldn’t be doing — as in panicking — because of the nose-dive the stock markets took on Monday.

You can listen live at www.federalnewsradio.com or at 1500 AM in the D.C. area.