Form TSP-3 is used to designate a beneficiary for a thrift savings plan. A thrift savings plan is a special savings plan available to federal employees and their families, including military members and their dependents. This is a specialized retirement account. Using a Form TSP-3, the account owner can name a beneficiary who receive the balance of the account if the account owner dies.
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This form is also known as a Designation of Beneficiary. It will be used for a Thrift Savings Plan. These financial plans are available for Federal employees and families, such as military members and their dependents. It is a retirement savings and investment plan that offer contribution options and tax benefits similar to that of a 401(k). This particular form will be used to allow the TSP owner to designate a beneficiary in case of their death.
This form will require that you list the person or persons you want to receive your savings in case of your death. When filling out this form, you’ll need their personal and contact information. This will ensure that they can receive the TSP. If this information changes, it’s best to file a new form to ensure that your beneficiaries can be notified about the Thrift Savings Plan.
To complete a TSP-3, you will need to provide the following information:
