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Trenton Metro Area Local

American Postal Workers Union

AFL-CIO

 

 

Thrift Savings Plan Open Season
and PostalEASE

October 15 through December 31, 2004

Using PostalEASE for TSP Enrollment

Employees must use the PostalEASE telephone system or the PostalEASE employee Web site to enroll, to make contribution elections, and to make cancellations. PostalEASE's toll-free number is 877-4PS-EASE (877-477-3273).  Web access is available through the Postal Service Intranet and through the Personnel Central Computer in the lunchroom at the Monroe Facility and other locations.  Employees must have their Employee IDs (found on their earnings statements) and USPS personal identification numbers (PINs) to use PostalEASE.  Social Security numbers are no longer valid for PostalEASE access.

TSP Fund Investment Changes

Employees may change their fund investment choices (contribution allocations) both during and outside of the TSP open season.  To make a fund investment choice, an employee must contact TSP directly, not PostalEASE. If employees do not contact TSP, their existing fund investment choice continues. The earnings statement (paycheck stub) shows the TSP contribution percentage or dollar amount, but the statement does not show the TSP fund investment detail.

TSP Contribution Limitations

Because the TSP has moved the open season election period to December, the increases in the TSP employee contribution limits become effective each December.  For example, during the October 15 through December 31, 2004, open season, employees covered by the Federal Employees Retirement System (FERS) will become eligible to contribute up to 15 percent of basic pay in 2005 (the maximum was 14 percent for 2004). Eligible FERS employees still receive the Agency Automatic (1 percent) Contribution and the Agency Matching Contribution of up to 4 percent from the Postal ServiceTM - these amounts have not changed. Employees covered by the Civil Service Retirement System (CSRS) and CSRS Offset employees will become eligible to contribute up to 10 percent of basic pay in 2005 (the maximum was 9 percent for 2004).

The limits for FERS, CSRS, and CSRS Offset employees will continue to increase by 1 percentage point per year through 2005. Then, in 2006, all participants will be eligible to contribute up to the Internal Revenue Service (IRS) annual deferral limit without any percentage limit. The IRS annual deferral limit for 2005 is $14,000. This is scheduled to increase by $1,000 each year through 2006 to $15,000.

Effective Dates of Open Season TSP Changes

If the employee entered his or her TSP open season election via PostalEASE from... Then effective date will be...
10-15-2004 00:01 A.M. through
12-21-2004 12:00 noon Central Time (CT)
12-11-2004 (pay period [PP] 27-2004)
12-21-2004 12:01 P.M. through
12-31-2004 5:00 P.M. CT
12-25-2004
(PP 01-2005)