Thrift Savings Plan adapts to COVID
By Lauren Russell, 66th Air Base Group Public Affairs
/ Published May 15, 2020
HANSCOM AIR FORCE BASE, Mass. – The COVID-19 pandemic has caused a lot of uncertainty in its wake, leaving a lot of people to wonder about their financial health and future.
Counselors from the Airman and Family Readiness Center here are encouraging members utilizing the Thrift Savings Plan, a retirement plan for federal employees, to stay up to date on changes to the program through the current climate.
“We’re all watching the news and the market trends, and a lot of people are wondering how this all affects their money,” said Kathy Vaillancourt, Hanscom Personal Financial Readiness program manager. “This is a good time to get educated on the Thrift Savings Plan program and what it means for your money.”
The Federal Retirement Thrift Savings Board has made temporary updates to the program guidelines, including required minimum distributions, loan applications and withdrawal options.
Visit www.tsp.gov/whatsnew/Content/coronavirus/index.html#caresActUpdate for an up-to-date list of changes related to COVID-19. A full list of upcoming webinars is available at www.tsp.gov/webinars.
Vaillancourt said her team of financial counselors offers virtual classes on the TSP program, as well as other financial readiness programs, and is available to assist with questions.
Personnel can set up a session by emailing firstname.lastname@example.org.