§ 1655.2 - Eligibility for loans.

§ 1655.2 Eligibility for loans.

Cross Reference

Link to an amendment published at 87 FR 31692, May 24, 2022.

A participant can apply for a TSP general purpose or residential loan if:

(a) More than 60 calendar 30 business days have elapsed since the participant has repaid in full a any TSP loan of the same type. ;

(b) The participant is in pay status;

(c) The participant is eligible to contribute to the TSP (or would be eligible to contribute but for the suspension of the participant's contributions because he or she obtained a financial hardship in-service withdrawal); ; and

(d) The participant has at least $1,000 in employee contributions and attributable earnings in his or her account; and

(e) The participant has not had a TSP loan declared a taxable distribution within the last 12 months for any reason other than a separation from Government service

. Paragraph (b) of this section shall not apply to loan requests made during a Government shutdown by participants who are furloughed or excepted from furlough due to the Government shutdown.

[84 87 FR 1601, Feb. 5, 201931692, May 24, 2022]