What months will I be able to contribute to Roth TSP (Army)

[domingo3]

I know the announcement says that Roth TSP will be "available" in October. Does anybody know if that means they will have the elections available in October, so that we will only be able to contribute during the November and December pay periods, or we will be able to make contributions for October, November, and December? Being so close to the end of the year, that would mean a 50% difference in what I'd be allowed to contribute.

Thanks

 

[domingo3]

Dear Valued Customer

You will be able to make the election in October, which means the money won't start coming out until November.

 

[domingo3]

I feel like I'm having a conversation with myself here, but I can see other people are reading. Hopefully this is helpful to some of you out there. My local finance office hadn't received instructions yet on how to enter the elections, but they said they'd be willing to take my form.

Roth contribution elections for now can only be done via paper form. You'll eventually be able to make changes via mypay, but that implementation is later.
(Hypothetical question: What happens if I fill out a TSP-U-1 with Roth elections, and then a few months later, I change my traditional elections percentage via mypay? Does that cancel my Roth election?) Can anyone from USMC comment if their TSP view in mypay has changed?




"Dear Valued Customer

Customers will be able to make an election using the TSP election form with their respective pay offices as follows (please note all dates are tentative):

DCPS (All DoD civilians as well as other civilians serviced by DFAS) July 2012
DJMS (Army, Air Force, Navy) October 2012
MCTFS (Marines) June 2012


***********Below is the tentative schedule of implementation on myPay:***********
Civilian (HHS, VA, and EPA ONLY) Fall 2012
MCTFS Fall 2012
DJMS sometime in 2013"

 

[domingo3]

Hello, Self,
Well, what do you know? Here it is in October, and most of what I've been told and typed above is wrong. Army, Navy, and Air Force CAN make changes right on MyPay for Roth contributions. They also have a brand-spanking new (as of October 2012) TSP-U-1 form. I imagine it has something to do with the dfas software that's written on punch cards (almost), but Army, Navy, and Air Force contribute in dollars, while others contribute in percent of pay.
I changed my Roth TSP on MyPay, and it says this action will be effective 01 November, so I'm guessing (but not sure) they were accurate when they said I'd only be able to make contributions from November and December pay. I was afraid to drop my traditional TSP contributions to zero percent for fear that the system would get confused and turn off everything.

 

[PessOptimist]

Hi domingo3

Talking to yourself is healthy I am told.:notrust:

As you stated, people are reading this and I believe thay value the info you post here.

I don't reply since I am retired from the military and never had a military TSP.

I hope you get your payroll allocations going where you want with no glitches.

Keep in mind that any inter-fund transfers you do transfer both tax deferred and tax paid funds. The same will apply when you withdraw them some day. Equal percentages from all funds. Some to be taxed at then current rates, some not.

Someone correct me if I am wrong about the withdrawals.

FWIW I believe DFAS has moved beyond punch cards but believe fund transfers are still done with magnetic tape.

 

[James48843]

.....FWIW I believe DFAS has moved beyond punch cards but believe fund transfers are still done with magnetic tape.

I do believe the Department of the Army has unveiled
it's new signalling system for Roth contributions:

Just wave how much Roth contribution you wish to make: