TSP's Help for Hurricane Harvey Victims

From tsp.gov

Quote:

Help for Hurricane Harvey Victims

The TSP has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricane Harvey: As of September 1, 2017, we will treat any Financial Hardship In-Service Withdrawal Request as a qualifying hardship and will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal provided one of the following is true:

Your primary residence or place of employment is located in a covered disaster area and has incurred a loss as a result of Hurricane Harvey.

OR
Your hardship withdrawal will be used to assist an eligible family member who lives or works in a covered disaster area and who has incurred a loss as a result of Hurricane Harvey.

IN ADDITION, you must also meet all of the following requirements:

You must be actively employed as a federal civilian or a member of the uniformed services.
You must complete Form TSP-76, Financial Hardship In-Service Withdrawal Request.
You must write “Hurricane Harvey” at the top of page 1 above the name of the form.
You must check the “Personal Casualty Loss” box on page 2, Item 18 of your request form, as the reason for requesting financial hardship.
Your request must be received in our office by January 24, 2018 and, in compliance with IRS guidelines, your distribution must occur before January 31, 2018. Any Financial Hardship In-Service Withdrawal Request forms received after January 24, 2018 will be processed as a standard hardship withdrawal, and your TSP contributions will automatically stop for 6 months.

If you want to stop your TSP contributions, complete Form TSP-1, Election Form (Form TSP-U-1 for uniformed services) or use your agency or service’s automated system.

This rule change is not retroactive and all other Form TSP-76 rules apply. Participants may only receive one hardship withdrawal under this change. If you have questions about this change, call the toll-free ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, please call 404-233-4400 (not toll free).

More on Tax relief: https://www.irs.gov/newsroom/tax-rel...arvey-in-texas