TSP to implement changes for Roth option
By Airman 1st Class Samantha Saulsbury, 460th Space Wing Public Affairs
/ Published October 03, 2014
BUCKEY AIR FORCE BASE, Colo. -- Beginning February 2015, the Defense Finance and Accounting Service will implement changes that enable the Department of Defense to comply with Roth Thrift Savings Plan requirements.
In order to implement the changes, new contribution elections need to be submitted to allow investments to continue without interruption.
Current Roth TSP deductions will end Jan. 31, 2015. To continue contributing to Roth TSP after Jan. 31, 2015, new elections will need to be submitted as percentages of basic pay, special and incentive pay and bonuses. Beginning Jan. 1, 2015, myPay or hardcopy forms will be available to select new elections. New elections must be received by Jan. 31, 2015, to ensure no interruption to investment plans is experienced.
Expect to receive additional information on this effort during November and December. The DFAS website will be updated with the needed worksheets and instructions to assist in making the new elections.