Amelia Gruber | September 2, 2016 | 0 Comments

TSP Eases Rules for Hardship Withdrawals for Victims of Louisiana Floods

Max Becherer/AP

The federal employee Thrift Savings Plan on Friday announced that it will ease the process of making financial hardship withdrawals from retirement savings for victims of the recent storms in Louisiana.

Federal employees and military members who live or are employed in the disaster area and have experienced a loss as a result of the storms will qualify for in-service financial hardship withdrawals, and will not be subject to a rule that normally prohibits employee contributions to TSP accounts for six months following such withdrawals. TSP participants can also withdraw money to help eligible family members recovering from the storms.

Those who wish to take advantage of this loosening of the rules should complete form TSP-76, writing “Louisiana storms” at the top of the form and checking “personal casualty loss” on page 2, item 18 as the reason for requesting the withdrawal. There is a limit of one withdrawal per participant, and requests must be received by Jan. 10, 2017, with distributions occurring before Jan. 17, 2017.

» Get the best federal news and ideas delivered right to your inbox. Sign up here.

Though participants will not be required to stop making employee contributions to their TSP accounts after withdrawing money to help flood victims, they can elect to do so, using form TSP-1. Click here for more information from TSP on making withdrawals.

Hardship withdrawals from TSP are not the only tool available to federal employees suffering damage from the August storms and flooding, which killed at least 13 people. The nonprofit Federal Employee Education and Assistance Fund offers grants to civil servants to repair damage from natural disasters. FEEA also provides no-interest loans of up to $1,200 to help with emergencies.

Federal employees can also donate their vacation days to colleagues adversely affected by the storms, the Office of Personnel Management noted in recent guidance on emergency workforce flexibilities available during hurricane season. Click here for OPM’s rundown of benefits that may be used during extreme weather.


Thank you for subscribing to newsletters from
We think these reports might interest you:

  • Forecasting Cloud's Future

    Conversations with Federal, State, and Local Technology Leaders on Cloud-Driven Digital Transformation

  • The Big Data Campaign Trail

    With everyone so focused on security following recent breaches at federal, state and local government and education institutions, there has been little emphasis on the need for better operations. This report breaks down some of the biggest operational challenges in IT management and provides insight into how agencies and leaders can successfully solve some of the biggest lingering government IT issues.

  • Communicating Innovation in Federal Government

    Federal Government spending on ‘obsolete technology’ continues to increase. Supporting the twin pillars of improved digital service delivery for citizens on the one hand, and the increasingly optimized and flexible working practices for federal employees on the other, are neither easy nor inexpensive tasks. This whitepaper explores how federal agencies can leverage the value of existing agency technology assets while offering IT leaders the ability to implement the kind of employee productivity, citizen service improvements and security demanded by federal oversight.

  • IT Transformation Trends: Flash Storage as a Strategic IT Asset

    MIT Technology Review: Flash Storage As a Strategic IT Asset For the first time in decades, IT leaders now consider all-flash storage as a strategic IT asset. IT has become a new operating model that enables self-service with high performance, density and resiliency. It also offers the self-service agility of the public cloud combined with the security, performance, and cost-effectiveness of a private cloud. Download this MIT Technology Review paper to learn more about how all-flash storage is transforming the data center.

  • Ongoing Efforts in Veterans Health Care Modernization

    This report discusses the current state of veterans health care


When you download a report, your information may be shared with the underwriters of that document.