Automatic Enrollment Program
The Federal Retirement Thrift Investment Board (FRTIB) is proposing to amend its regulations to increase the automatic enrollment percentage from 3 percent to 5 percent of basic pay for all participants who are automatically enrolled in the Thrift Savings Plan (TSP) on or after October 1, 2020 and for Blended Retirement Service (BRS) participants who are automatically re-enrolled in the TSP on or after January 1, 2021. In addition, the FRTIB is proposing a non- substantive clarification regarding installment payments calculated based on life expectancy.
Hardship Withdrawals for Expenses Related to Natural Disasters
The Federal Retirement Thrift Investment Board (``FRTIB'') proposes to allow participants to take hardship withdrawals for expenses related to natural disasters.