tsp.gov
Retirement Planning: Prepare Financially, Physically, Emotionally
Federal Retirement brings a major change in the life of not only the retiree, but also their family. It is a shift from a structured way of life to an unstructured one, which can be unnerving and overwhelming, especially if you are not prepared.
This article will help people prepare themselves financially, physically and emotionally for the next phase of life:
Being Prepared Financially
– Start Saving – Saving, whether for retirement or any other goal, is a rewarding habit. If you are already doing it, great; if not, you should get started. Start saving from a small amount, and gradually develop a habit of keeping aside a specific amount of money every month. Retirement savings programs like the Thrifts Savings Plan can help you plan for the future.
o Federal Employees receive a match to every dollar they invest into their TSP Account – up to the first 5% of their income. It’s like giving yourself a raise by simply putting the money in the account.
– Know Your Retirement Needs – if you wish to maintain the same standard of living after retirement that you currently have you should absolutely perform a Retirement Cost Analysis and a Retirement Benefit Analysis. There are rules of thumb when it comes to retirement planning but as a federal employee your benefits can be very complex. It is always best to operate with as much knowledge as possible. PSRetirement.com offers readers a free retirement Benefit Analysis.
– Know What You Are Eligible For Through Your Employer’s Pension Plan – Through your High-3 calculations and depending on whether you are covered by FERS or CSRS your Federal Annuity can be significantly different than your friends or colleagues. Don’t rely upon their figures to determine what you think you might be eligible for. Work with your HR Department and you may even want to talk with a knowledgeable financial planner who can help you determine how your Annuity should impact what other investments you may need to make before retirement to give you the income you need.
– Know Where Your Money Is Invested – The type of investments you make play a significant role in how much you will have saved at retirement. Keep a track of where your savings and TSP money is being invested. Diversifying investments can minimize risk and depending on your age certain investments may be more appropriate than others.
– Learn About Social Security Benefits – If you are a CSRS employee you may not be eligible to receive Social Security. For FERS employees there are also impacts to your Social Security payments depending on when you claim it and how much you earn in the way of your Federal Annuity. Because of the complexity of the different systems and how they impact one another – it is incredibly important to talk with an expert about what your benefits will be.
Being Prepared Physically
– Stop Smoking – Smoking causes life-degrading and life-shortening diseases.
– Control Blood Pressure – after quitting smoking, the next most important thing that Americans should do is to control their blood pressure by eating healthy and having an active lifestyle.
– Eat Healthy – The expression ‘you are what you eat’ proves to be right when people start having health problems after retirement because of their preceding unhealthy lifestyle. They should eat healthy both before and after retirement to avoid common health issues like blood pressure, hypertension, ulcers and others.
– Stay Active – Many people have an active workout regime while they are employed, but once they retire, they give it up. Having an active lifestyle after retirement is equally important to stay fit.
– Control Blood Pressure – High cholesterol means blocked blood vessels. The best way to lower cholesterol is to keep a check on your weight and exercise regularly.
– Get a Regular Checkup – Even if you feel fit, getting an annual medical checkup is important as some health problems like diabetes, cholesterol and others might not have any obvious symptoms until they get worse.
Being Prepared Emotionally
– Set Lifestyle Goals – Make a list of things that you would like to do or places you would want to visit after retirement, for which you were too busy while employed. You can also plan your financial savings accordingly. Occupying yourself with interesting activities will offset feelings of uselessness after retirement.
– Build a Network – It is important to have a good support system and social circle after retirement to mingle with people who are going through the same transition as you are.
– Consider Your Spouse’s Feelings – Retirement is as much of a life-changing event for you as it is for your spouse, especially if they are still employed. Discuss their expectations, your feelings and sharing of responsibilities to make the transition easy for both of you.
Whether you are nearing the end of your service or are thinking to plan ahead, PSRetirement is your complete source of for all retirement-related solutions!
Death and the TSP
When a retired federal employee dies, notification should not only be made to the Office of Personnel Management but to the Thrift Savings Plan (TSP) if the deceased was a participant. Notification should be made as soon as possible to the TSP by a family member or a representative of the deceased.
If an individual dies who is still an active employee in the federal service or a member of the uniformed services, then the report of death should be made to the deceased employing agency or service. If the employer is a former or retired employee, the family member or representative should call the TSP at 1-877-968-3778 to speak to a TSP service representative.
With the TSP, it is important to move forward as quickly as possible in providing the necessary information to the TSP so that a determination of potential beneficiaries can be made. After completing the forms, a TSP-17 for regular employees and a TSP-U-17 for the uniformed services, a death certificate must accompany the submission. The completed form and all supporting documents can be mailed to TSP Death Benefits Processing Unit-P.O. Box 4450, Fairfax Virginia 22038-4450 or you may overnight it to ATTN: TSP Death Benefits Processing Unit, 12210 Fairfax Town Center, Unit 906, Fairfax, VA 22033.
P. S. Always Remember to Share What You Know.
Death Benefits
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Thrift Savings Plan / Power of Attorney (POA)
There are circumstances where the death of a loved one is so overwhelming, taking care of necessary business might have to be delegated to someone else – this is where the Thrift Savings Plan Power of Attorney (POA) would come into play. There is absolutely nothing wrong with getting help to handle affairs when the task simply seems too much or you might decide the situation would be best handled by a professional.
The Thrift Savings Plan (TSP) has provisions for a Power of Attorney (POA) to be used to represent your account. The TSP Power of Attorney can be used to appoint someone else to act on your behalf. It does not have to be a professional, but someone you trust to handle your affairs and act in your best interest.
The person you designate as your TSP Power of Attorney may handle all of your affairs associated with your TSP, including borrowing or making withdrawals from the account. On the other hand, you might simply want the TSP Power of Attorney to handle certain aspects of your account. The extent to which you want your TSP Power of Attorney to act on your behalf is entirely up to you. There is a Special Power of Attorney Form that is available at the TSP allowing for the designation of your TSP Power of Attorney.
The TSP suggests reading the booklet Court Orders and Power of Attorney to gain a better understanding of the provisions, issues and guidelines and language used for granting Power of Attorney. It is important to understand the process, procedures, your rights and responsibilities and the decision to withdraw a TSP POA.
P. S. Always Remember to Share What You Know.
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TSP Payments to Beneficiaries
When a family member passes away most of us are not only pained by the passing but saturated with how to pay for the arrangements and everything else that comes with death. Even if we know that our loved one had life insurance or other means to take care of things, it may not be immediate that those funds are made available. Make sure you receive your TSP payments.
In the case of TSP funds, although you can request accelerated or expedited processing, generally it takes about 60 days or better to receive payment. Once the original notification of death is made, participant’s beneficiaries have been determined and all the information has been gathered, the process may take several months. Filling out the information required for submission to the TSP is critical. The sooner you do your part, the faster the TSP can begin the process.
Because receiving payments might be delayed in process, you should notify the TSP about any changes to your address, phone number, or other means of notification. Not to mention you should consider working with a knowledgable financial planner who can help you ensure that you have enough money to live on before your TSP funds become available. When notifying the TSP of any changes be sure to place your name and Social Security Number on the correspondence as the beneficiary along with the name and Social Security Number of the deceased TSP participant.
Therefore, when you are making plans it is important to have knowledge of such information beforehand so that both you and your family will know that if something happens to you, what you intend for your family to have may not be immediately available. Evaluate what might be done to making the waiting process more tolerable. Just as it takes a little time for you to receive your first annuity payment upon retirement, generally everything else takes a little time to guarantee the integrity of the process.
P. S. Always Remember to Share What You Know.
TSP 90 form – Withdrawal Request for Beneficiary Participants
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TSP 17 Distributions at Death
TSP 17
When an individual passes away who was a participant in the TSP and has a valid designation of beneficiary form on file on the date of death, the TSP will make the distribution accordingly (Use Form TSP 17). However, if there is no designated beneficiary on file, the TSP will distribute the entire account in accordance with the Order of Precedence.
First – a surviving spouse;
Second – the children of the deceased to be shared in equal portions, if a child of the deceased has passed away, then the children of the deceased child will receive the portion that the deceased child would have been entitled to;
Third – the parents with equal shares or the surviving parent;
Fourth – the executor of the estate;
Fifth – if none of the above exist, the next of kin in the state where the deceased lived at the time of death; not where he/she passed away.
Visit your personnel folder and your TSP account often to make sure you have made necessary changes and updates so that your resources will be distributed in the way you intended.
P. S. Always Remember to Share What You Know.
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TSP: Completing the TSP 17
TSP Beneficiaries
You are required to complete the TSP 17 form so that the TSP can determine potential beneficiaries. The TSP 17 has several parts and must be completed with care. Always check with the TSP to make certain that all forms you are requested to complete have been updated and are current. When new TSP forms are rolled out all previous editions of the form become obsolete and cannot be used. So make sure you are completing the right form.
TSP – 17
The information relating to TSP 17 Form (also referred to as the Deceased Participant Form) has a number of sections that require your careful attention. Section 1 is information about the deceased participant. Section 2 is information about the person submitting the form. Section 3 is information about potential beneficiaries. This is the part that can be very challenging. You may not have all of the information and you may not know the information. When you don’t know the information simply check the – Don’t Know- box and follow the instructions. Section 4 of the TSP 17 form asks about detailed information about potential beneficiaries. Remember, provide as much information on the TSP 17 form as you can and if you don’t know write on the line -Don’t Know. Section 5 asks that you provide referral information so that they can contact someone else who might be able to provide the information you don’t know. This section needs you to provide any information possible even if a telephone number or address is not known. Section 6 of the TSP 17 form is the additional information area where you provide any additional information you think might help with the distribution of the deceased participant’s account. Section 7 is the certification area where you affix your signature to affirm the information given.
Don’t forget to attach a copy of the deceased participant’s death certificate. The more thorough and accurate you are, the quicker the agency can execute the process.
P. S. Always Remember to Share What You Know.
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Retirement Cannot Be A Secret
Your plans for retirement should include your family. Retirement is a family decision where communication is most important. There are so many benefits with provisions that can be complicated in the federal retirement systems. The federal employee as well as family members need to understand the fundamental concepts of all federal retirement and health benefits available.
Take time to discuss with your family how you feel about retirement. If you are experiencing some emotional separation about your impending retirement, discuss it with your family members or someone you can trust. Talking about your concerns and issues will make the transition from work to retirement much easier.
Don’t go through the challenges of retirement alone. If you don’t feel comfortable talking to your family about your fears and anxieties, you can always get counseling from a career coach or some other professional familiar with the highs and lows people experience about retirement.
If you know other people who have retired try talking to them. Let them share their experiences with you and I am sure what they describe will resonate with what you are feeling. Retirement for many is like saying goodbye to an old friend and that is always painful, even causing some tears to fall. There is absolutely nothing wrong about missing what has been such a significant part of your life for such a long time. There is nothing wrong with being afraid or feeling that you are no longer valued. Allow yourself a time to grieve, maybe 30 minutes, okay an hour and then shake it off and say – Look out world, I am ready for the next new adventure and this time I am doing on my own terms.
You can find the rainbow in retirement if you see all the years you worked as preparation for the best years of your life.
P. S. Always Remember to Share What You Know.
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Save Don’t Spend
One concept that should be a part of the fabric of our being is save, save, save during the last five years of our federal work career. Hopefully you have been contributing to your TSP since you began working, but certainly the last 5 years before retirement is a time you should save like never before. These last 5 years should be seen as preparing to come into the home stretch of your retirement years.
If you don’t spend money then you should be saving money. The spending you should be doing during the five years prior to retirement should only be for paying those expenses you must – rent/mortgage, utility bills, food, and other must-pay, mandatory items. No extra unnecessary spending should take place during this time.
You are saving now so that you don’t have to pay later and find yourself unhappy, and unsecured in your retirement years. Be frugal during the last five years of your work life, after all you have worked for 20 to 30 years and you should have acquired most of the things you needed and wanted.
When you are contemplating retirement you should scale way back on your spending so that your debts are reduced significantly. The only large debt that might go into retirement with you is unfortunately a mortgage.
Every time you think about spending during the last five years of your retirement, think about how much you want to live in comfort and security and Save ferociously.
P. S. Always Remember to Share What You Know.
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TSP: What’s Your Value
TSP and Value
Do you know what your value is in terms of dollars and cents. If I asked you right on the spot – What is the value of your net worth – could you answer that question without missing a beat? Is your net worth more than just the value of your money and TSP account?
You not only need to know what is in your bank accounts, you also need to know the value of your TSP account and the estimated value of your annuity. In addition to having that information at your fingertips, what about the value of your home if you were to sell it or rent it out. Life insurances if they have a cash-value should also be evaluated.
I heard a woman say recently that she had FIVE bank accounts. I asked why. She answered, “I just like having my money in different banks.” Ok, perhaps a pet peeve, but not a good idea on its face. Neither bank offers anything special, she has simply had the accounts for a long time and had not thought about closing them or consolidating the accounts. She also pays monthly fees on the accounts because of no activity in the accounts.
So each month she very kindly gives the bank money for letting her house her money in their bank. Pretty soon her accounts may show a zero balance and she has not used any of the money. Her fund is called a -Throw Your Money Down the Sewer- where you will never find it.
If you have your money in different banks just to say you have 5 or 6 bank accounts, consider getting another hobby, that one is not good for your financial future. Always think about how to make your money work for you, not somebody else, particularly the bank.
After you have evaluated all of your monetary holdings, think about how you can turn your skills and gifts into money in retirement. Often hobbies can be turned into cash. You might have a yard sale to turn your clutter into cash. I am sure you have heard about some pretty significant finds at yard and estate sales.
Make sure you are evaluating your total value to enhance your retirement future. The TSP account can help you realize your true value.
P. S. Always Remember to Share What You Know.
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Social Security – Now Or Later
There was a candy years ago called Now-Later. I believe it was called Now-Later because if you chewed it now, it lasted so long you would still have it for later. Well, when it comes to when to collect Social Security benefits I am not so sure if the Now-Later theory actually works or if it is as fool-proof as the candy.
We did a post some weeks back on when to collect Social Security for maximum benefit. The question of when appeared in my inbox again. A gentleman asked, – When, When, do I collect Social Security benefits without cheating myself out of what is rightfully mine?
I wish the answer to his question was as straight forward as his question, but it is not. There are Fact Sheets and Frequently Asked Questions (FAQs) about Social Security Benefits. Yet, the answer to the question is as unique as one’s DNA. It is true that the longer you wait up to age 70 to receive your Social Security the higher the benefit. Waiting until after age 70 is of no real benefit.
If you don’t take the benefit at the first point of eligibility- age 62 and wait until your full-retirement age, you stand to earn 6 to 8 percent more per year. If your spouse claimed Social Security at his or her full retirement age or older, as a widow or widower you are entitled to 100 percent of the benefit. If your spouse claimed the benefit earlier, then what you are entitled to is decreased.
When To Begin Social Security Benefits
Once you know what the facts are, it is up to you and perhaps a financial advisor or family members you trust to see how the financial picture shapes up for you. Nobody knows your circumstances better than you; therefore you are the best source to make a decision about WHEN do you collect your Social Security benefits.
You may need the money now to help close a financial gap in your living expenses and needs. On the other hand, you might be in a position to hold off to maximize your benefits because you have enough from other sources to make ends meet. The majority of us draw money in retirement from 3 primary sources: Pensions, Social Security and Savings / Investments (TSP).
This is a question that requires some careful analysis on your part to determine what course of action best fits into your financial plans. Individuals who write and lecture on such topics are left to take a general approach. The information they give is very helpful in providing background information and giving you something to think about; but you hold the key to designing a retirement future that fits your needs.
P. S. Always Remember to Share What You Know.
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TSP and Social Security
Federal employees that are a part of the Federal Employees Retirement System (FERS) are eligible for both Social Security and for Thrift Savings Plan (TSP) employer matching – therefor these employees have quite a number of things to think about as they prepare for retirement. Preparing for retirement doesn’t happen when you turn 55, 65 or beyond, but as early in one’s work career as possible and it should continue throughout the employee’s career and then into retirement.
FERS employees have three components to their retirement system with the the most important part, TSP, requiring a lot of input from the employee. The basic pension requires no input from the employee, that is the piece of the retirement benefits profile that is legislated. The Social Security portion of FERS also requires no input from the employee other than being in a pay status so that the appropriate deduction can be made from salary.
However, becoming eligible to receive the Social Security benefit at age 62 must be carefully analyzed. Whether your Social Security is a part of your retirement system or not, evaluate your situation carefully to make sure you are maximizing your benefits in retirement to fit your needs.
While Social Security benefits might look like a good approach to increasing the amount of income you are working with, you might find out in the long-term that you have deprived yourself of a considerable amount of money by collecting your Social Security too soon. The longer you wait to collect your Social Security the greater the financial benefit will be.
Normal retirement age is 66 if you are born between 1943 and 1954 with age eligibility gradually increasing for each year thereafter. If you delay receiving your Social Security between 62 and 70, with each year your benefit will increase by 6 to 8 percent. So if you can wait you will probably be better off financially. However nobody is in a better position to make that decision than you and obviously how much you have saved in your TSP will have an impact on how early you are forced to begin your Social Security benefits.
Also, even if your life expectation indicates that you may not live to be well into your golden years, you might want to give consideration to the spouse you might leave behind and attempt to maximize your Social Security benefits based on both of your life expectancies. If you are the higher wage earner, your spouse may have the option of taking your Social Security benefit in lieu of their own to realize the greater benefit.
MAXIMIZING YOUR TSP AND RETIREMENT BENEFITS
Managing your TSP to maximize your retirement is where you have to do the work. By making the maximum contribution to your TSP.gov account, you will be able to live in comfort and security. If you fail to make your TSP work for you, potentially the largest part of your retirement benefit, you may have to live in your retirement years on somebody else’s terms and not your own.
Just do your homework. Ask loads of questions so that you can make the best decision for your life and retire well with no regrets.
P. S. Always Remember to Share What You Know.
What are the Contribution Limits for TSP
Contribution Limits for TSP
Many employees worry about the consequences of making contributions in excess of the Internal Revenue Service TSP contribution limits.
If an employee has made excess TSP contributions, those funds can be returned by completing Form TSP-44-Request for Return of Excess Employee Contributions. Eligible participants must complete the Form TSP-44 and send it to the TSP for processing. As soon as the TSP receives your TSP-44 your excess deferrals and earning will be returned to you.
When submitting a request for return of excess employee TSP contributions, check to make certain you use a current and updated TSP form. The TSP will not process older versions of the TSP-44.
Current TSP forms can be identified by locating the tax year found in the upper right-hand corner under the form name. If you request excess contribution limits you made in 2014, then the form should show tax year 2014.
P. S. Always Remember to Share What You Know.
Access your TSP.gov Account HERE
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Matching Contributions: TSP
TSP and Matching Contributions
How are federal employee Thrift Savings Plan (TSP) contributions matched? This is a question that showed up recently in our inquiry/comments in-box.
Federal and Postal employees covered under the (FERS) can receive matching funds for up to 5% of basic pay or salary. If an employee contributes 5% of the basic pay earnings each pay period during the course of a year, those funds will be matched..
The TSP matching is achieved dollar-for-dollar on the first 3% of basic pay and 50 cents on-the-dollar for the remaining 2% of the basic pay earnings. When choosing your TSP contribution amount make sure the amount is based on criteria that will maximize the benefits you are eligible to receive via TSP.
Check with your Human Resources Office (Postal employees can check their on LiteBlue or through PostalEase to be absolutely certain your TSP contributions are such that they will be spread out over 26 pay periods in order to get the maximum contributions match. You may also use the TSP Deferral Calculator at tsp.gov to determine the appropriate TSP contribution amount that will give you the 26 pay period scenario you desire.
P.S. Always Remember to Share What you Know.
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Elective Deferrals and TSP
TSP and Elective Deferrals
Thrift Savings Plan (TSP) Elective Deferrals are payroll deductions federal and postal employees ask their employer to withhold in order to make contributions to employer-sponsored retirement plan – the TSP.
Tax deferred contribution payments to traditional TSP and after-tax contributions to Roth TSP are classified as elective deferrals. These contributions cannot exceed the Internal Revenue Code’s (IRC) annul contribution limit for 2013 and 2014 of $17,500. The limit still applies whether contributions are combined (tax-deferred traditional or Roth after-tax contributions) or are a single elective deferral.
TSP catch-up contributions are not impacted by the IRC limit. Additionally, the agency’s automatic 1% and matching contributions are not classified as elective deferrals because they are not a part of an employee’s pay or salary.
Make certain you have a good understanding of the provisions and guidelines governing elective deferrals. If in doubt do not hesitate to contact the TSP representative in your Human Resources Office. You may also wish to speak with your chosen financial professional for some ideas about how to best fund your TSP.
P. S. Always Remember to Share What You Know.
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Contribution Limits for TSP
A question about TSP contributions that always comes up in my training seminars is what happens to the agency contributions if I reach my annual TSP contributions limit to my Thrift Savings Plan (TSP)? When you reach your limit before the end of the year, of course, your contributions are suspended for the remainder of the calendar year. In that regard, it is always important to speak your TSP representative in your human resources office to make sure that your contributions are stretched out over 26 pay periods – you may also wish to work with a financial professional who is knowledgable about federal retirement needs who can help you look at additional options for savings too.
There are stop-alerts, as I call them, that prevent violating the current year TSP annual contributions limit set by the Internal Revenue Code (IRC) for limits on elective deferrals. In other words, the TSP system will not allow employee contributions to be made into the fund when the limit has been reached.
View Your TSP Contribution Limits HERE
Your agency and employee TSP contribtions work in tandem. As you make contributions to your TSP account so does your agency. Therefore, when your contributions are suspended so are the agency’s TSP contributions. The agency’s TSP contributions depend on the amount of contributions you are making during each pay period.
However, the agency’s one percent automatic TSP contribution continues even though your agency matching contributions and your contributions have stopped. All such contributions are limited to those employees classified under the Federal Employees Retirement System (FERS).
P. S. Always Remember to Share What You Know.
RCC and TSP
I absolutely enjoy writing about subjects I think may help somebody get a better understanding of how to live their best life. So I thought TSP knows RCC had the makings of a RAP song and that if any of my students saw this post they wouldn’t think I was totally incapable of understanding RAP; and the rest of the reading audience would hang around to read the rest of the post.
Well, back to what I understand. RCC is Retirement Contribution Credits. Individuals who participated in the Thrift Savings Plan (TSP) during the 2013 calendar year might have qualified for the credit if they met the modified adjusted gross income criteria.
See which category fits your financial picture:
Married and filing jointly if your adjusted gross income did not exceed $59,000.00.
Head of Household – $44,250.00.
Single or Married filing separately or a qualifying widow or widower – $29,500.00.
Stay connected and informed on your TSP so that you don’t miss out on any benefits that can potentially improve your financial outlook now and in retirement.
P. S. Always Remember to Share What You Know.
Access your TSP.gov Account HERE
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Mobile TSP
Oh, how the times have changed the Thrift Savings Plan (TSP). It was not that many years ago that the thought of transacting business from anywhere other than the actual physical location of the business was a remote thought at best. Now in the new millennium we can virtually never leave our homes and get more done than ever before imagined – accessing and impacting your Mobile TSP is no different.
Many federal and postal employees spend a tremendous amount of time in their cars traveling back and forth to work and just living. Cities and communities are so spread out that it is near impossible to navigate the course of one’s life without a vehicle.
The TSP is a part of the new millennium too, and has grown into something very new indeed, and is no longer your mom’s TSP. The TSP is on the road with you and has gone mobile. TSP is anywhere you need to be. TSP.gov is mobile friendly because the folks at TSP want to answer the needs of their customers. TSP mobile allows participants to use their smartphone to get to the mobile version of the TSP ‘MY ACCOUNT.’ The bonus is – there is absolutely no need to download a special application. The mobile application provides access to the same information available on TSP.gov (You can find out how to access your TSP here).
Your TSP does not stop there. The TSP is keeping up with technology that keeps its customers informed and on the cutting edge of services, products and programs that deliver. Who is following TSP? Find out by becoming a TSP follower on Twitter. TSP can be found tweeting out the latest and best information and paying close attention to what you have to say @tsp4gov.
It’s all there for you the tools and the information needed to help you make sound decisions about managing your TSP account and building an unshakeable retirement future.
P. S. Always Remember to Share What You Know.
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TSP Fraud, Bogus Websites, Phishing & Scams
TSP Fraud
TSP Fraud is very real. The internet and conducting business on line is an easy and convenient way of taking care of the many things we do within very tight time constraints in our daily lives.
No matter the convenience, letting our guards down for exercising caution should never be an option. Become thoroughly familiar with the TSP website. If correspondence looks suspicious and you feel uncomfortable, it is a safe bet that your gut is probably right.
www.TSP.Gov is the legitimate web address for reaching The Thrift Savings Plan on-line. There is no other legitimate web address. If you receive an email asking you to update information or reset your password you should be very wary. ‘Phishing’ is a strategy that unscrupulous entities use in an effort to gain your login and password information. Beware because the link that is attached to these emails might be attempting to direct you to a fraudulent website. These fraudulent sites have the capacity to steal your login information once you enter them.
If you think something is wrong, it is always a good idea to call the TSP to protect your account from fraud.
P.S. Always Remember to Share What You Know.
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