James48843
Well-known member
Here is a TSP Loan question- if anybody knows-
I have an outstanding TSP Loan (to build a home) that will be paid off this month.
I currently have $300 a month deducted from my pay- and this week's paycheck will pay off the last of it.
My question is: Will my paycheck deduction automatically stop now that the loan is paid, or will I have to go into Employee Express and stop the deduction?
I only ask because while I only had about $220 due in this paycheck to finish paying off the loan, I just checked, and my agency payroll deducted the full $300 this paycheck of the normal loan paycheck deduction. I am thinking now if TSP doesn't notify my payroll right away that the loan is paid off in full, my agency payroll office may KEEP doing that for a while, and I really don't want that to happen.
Does anyone know? Does a payroll deduction for a TSP loan automatically stop with the last payment? Anyone experience this issue before?
I have an outstanding TSP Loan (to build a home) that will be paid off this month.
I currently have $300 a month deducted from my pay- and this week's paycheck will pay off the last of it.
My question is: Will my paycheck deduction automatically stop now that the loan is paid, or will I have to go into Employee Express and stop the deduction?
I only ask because while I only had about $220 due in this paycheck to finish paying off the loan, I just checked, and my agency payroll deducted the full $300 this paycheck of the normal loan paycheck deduction. I am thinking now if TSP doesn't notify my payroll right away that the loan is paid off in full, my agency payroll office may KEEP doing that for a while, and I really don't want that to happen.
Does anyone know? Does a payroll deduction for a TSP loan automatically stop with the last payment? Anyone experience this issue before?
