Who needs a TSP-3 form?
This form is used by the individuals who want to designate a beneficiary to receive their Thrift Savings Plan (TSP) account after their death. Your TSP account can be transferred according to the statutory order of precedence (to the widow; children; parents; appointed executor; next of kin entitled to the estate under the laws of the state), but if you want some special terms - fill out this form.
What is the purpose of the TSP-3 form?
The Designation of Beneficiary is completed to assign the specific beneficiaries to receive money from the TSP account after the applicant’s death. The TSP must receive this form before the person who fills it dies.
Which documents must accompany the TSP-3 form?
This form may be accompanied by additional documents on the TSP request.
How long does it take to fill the form out?
The estimated time for completing the form is 60 minutes. The form should be completed when there is a need.
What information should be provided in the TSP-3 form?
The filler must print all the information as it will be read by an optical scanner.
The TSP-3 form contains the following parts for completion:
- Participant information (name, TSP account number, date of birth, daytime phone, address)
- Signatures (of the participants and witnesses)
- Primary beneficiary designations (enter the share for each beneficiary as a whole percentage)
- Contingent beneficiary designations (they will share the portion of the TSP account that you designated for a specific primary beneficiary who dies before the applicant).
The filler and the witnesses must sign and date all additional pages.
What do I do with the form after its completion?
The completed and signed Designation of Beneficiary is forwarded to the Thrift Savings Plan, Birmingham, AL. If you have any questions concerning the form, call the toll-free ThriftLine 1-877-968-3778.