How to change thrift savings plan address?

The Thrift Savings Plan (TSP) often sends important communications via mail, and it helps to have your current address on TSP records. If you have changed locations, you should update your address with TSP so that you don’t miss out on important communications. TSP provides several ways to change your address.

If you are actively employed in federal or military service, you will need to contact your employing agency or service to change your address, since the agency is responsible for managing your TSP information and relaying any plan changes to the TSP. However, if you are no longer a federal government employee, you can change your address either on the TSP website or by filling out Form TSP-9, Change in Address for a Separated Participant.

Why do you need to change your TSP address?

Thrift Savings Plans do not send out as many communications via mail, but when it does, it is usually for important information related to your retirement savings. Usually, TSP can contact you with updates about plan changes or issues related to your retirement account. Also, if you are receiving benefits from the plan, TSP will send you IRS Form 1099-R, which you will need when filing taxes.

Keeping your address up to date also keeps your private information away from identity thieves. If your TSP plan information gets into the hands of another person, they could potentially steal your identity and even make changes to your account without your knowledge. Therefore, changing the address on the TSP record will protect your funds, and reduce exposure to identity thieves.

How to Change your TSP Address

The options you have to change your TSP address depend on whether you are actively employed or separated from service.

Actively employed

Actively employed federal workers comprise workers who are still eligible to contribute to their TSP account. If you are still an active duty or active federal employee, you should contact your employing agency to update your address. Usually, the agency you work for is responsible for maintaining the TSP plan and relaying any changes to the TSP. You won't be able to change your permanent address on the TSP website or by calling ThriftLine.

Separated from service

Separated from service includes both civilian and military service employees who are no longer in federal service, hence ineligible to contribute to their TSP account. If you want to change your address after you have separated from service, you can do so via the TSP website or by completing Form TSP-9, Change in Address for a Separated Participant.

To change your address on the TSP website, go to tsp.gov, and log in to My Account. Once logged in, go to the profile settings tab and click the “change profile” option. You will be required to provide your Social Security Number and your TSP Personal Identification Number to proceed with the request. You will then be asked to enter the new address that will replace the current address on the TSP records.

If you opt to use Form TSP-9 to change your address, follow these steps:

1. Download the TSP-9 form from the TSP website or request a copy by calling ThriftLine at 1-TSP-YOU-FRST (1-877-968-3778).
2. Fill in your personal information, including the new permanent address.
3. Sign and date the form.
4. Mail the completed form to TSP at the following address: TSP Service Office, P.O. Box 385021, Birmingham, AL 35238-5021

Alternatively, you can submit the form electronically through the TSP website. To do so, you will need to log in to your account and follow the prompts to submit the form online.

How to change your address if you have two TSP accounts

If you have worked in federal and military service, and you have two TSP accounts, you will need to change the address in both TSP accounts. If you have separated from active duty but you are an active federal service employee, you will need to change your address separately for each.

If you had a uniformed services TSP account, you will need to complete Form TSP-U-9 to change your address. You can obtain this form on the TSP website or by calling ThriftLine. Once you have filled in the required information, you should mail the form to TSP. As an actively employed federal service employee, you should contact your agency to update the record, and the agency will relay the change to TSP.

What to do with your TSP if you have separated from service

Once you separate from federal service or military service, you may want to explore the options you have to help you manage your money. Here are some options you may want to consider:

Leave retirement assets in your TSP account

Before you figure out what to do with your TSP asset, you can decide to leave the money in the TSP account. The funds will continue earning a return depending on how the money is allocated to TSP funds. However, TSP has limited investment options, you only get access to five fund options and target funds. Additionally, you won’t be allowed to make new contributions to the plan.

Roll over TSP assets into an IRA

You can roll over the TSP assets into an IRA to get access to unlimited investment options. An IRA gives you full control of your money, and you can decide how to invest your retirement money across a broad list of investment options. Also, you won't owe any taxes when you roll over a traditional TSP account to a traditional IRA.

Roll over TSP assets into your new employer’s 401(k) plan

If you left the federal service for the private sector, and your new employer offers a 401(k) plan, you can choose to roll over the TSP assets to your 401(k) plan. This rollover option allows you to maintain the tax advantages you enjoyed with TSP, and you won’t incur any taxes if you transfer a tax-deferred TSP to a tax-deferred 401(k) plan. Additionally, consolidating your retirement assets into one account can help you manage your assets easily.

Take a lump sum distribution from your TSP account

If you become unemployed after separating from federal or military service, you can take a lump sum distribution from your TSP account to help you meet your bills. However, taking a lump sum distribution has tax implications, and you could owe income taxes at your tax bracket and an additional 10% early withdrawal penalty if you are below 59 ½. 

Transfer TSP assets to a qualified annuity

You can also transfer the TSP assets to an annuity, in exchange for a consistent income stream for life. You will continue receiving annuity payments either monthly, quarterly, annually, or any other timeframes you choose. When you die, your heirs may receive a portion of your annuity if you die during the accumulation phase.