Thrift Savings Plans (TSP) in an Oregon Divorce
What to Know About Thrift Savings Plans in an Oregon Divorce: The Short Version
A Thrift Savings Plan (TSP) is a type of defined-contribution retirement plan. It is a pre-tax retirement savings and investment plan for federal employees and uniformed service members.
If a Thrift Savings Plan is among your marital assets, your options include:
- Distributing or transferring all or a portion of the TSP to the other spouse, using TSP forms and following the TSP process
- Transferring all or a portion of the TSP to the other spouse's IRA
- Agreeing that the account holder will retain the entire balance of the TSP, with the other party retaining assets of similar value
Because a TSP is a form of pre-tax retirement savings, a particular procedure must be followed to ensure that the tax-advantaged quality of the TSP funds is not extinguished by a poorly-executed transfer. Matthew has experience handling TSPs and can assist you with the process.
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