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alfaka2
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Is the Thrift Savings Plans (TSPs) (I made an early withdrawl of $164000 from my govermment Thrift Savings Plans) for federal gov't workers the same as a 457 plan?

 I made an early withdrawl of  $164000 from my govermment Thrift Savings Plans. Is the Thrift Savings Plans (TSPs) for federal gov't workers the same as a 457 plan?

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Ashby
New Member

Is the Thrift Savings Plans (TSPs) (I made an early withdrawl of $164000 from my govermment Thrift Savings Plans) for federal gov't workers the same as a 457 plan?

OPM describes it as like a 401K. See below.


The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. By participating in the TSP, Federal employees have the opportunity to save part of their income for retirement, receive matching agency contributions, and reduce their current taxes.

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