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443.203.9378
·
[email protected]
·
Mon - Fri 9am-5pm
Free Phone Consultation

The retirement savings program (TSP) for federal employees is changing its policy in light of the Supreme Court’s recent DOMA/gay marriage decision.

Effective today, an interim rule will include same sex marriages. To decide who qualifies as a spouse under a Thrift Savings Plan, the agency will use the location of where the participant was married. If a same-sex couple was validly married in a state that recognized their union, it does not matter if they subsequently move to a jurisdiction that does not sanction same-sex marriages.

In the TSP, some loan and withdrawal decisions require the consent of a spouse. And of course, upon the participant’s death, the funds go to the spouse (unless the participant has designated someone else).

5 CFR Parts 1651 & 1691
http://www.gpo.gov/fdsys/pkg/FR-2013-09-20/pdf/2013-22898.pdf