Performance Audit of the Thrift Savings Plan Withdrawals Process

This document is about a performance audit of the Thrift Savings Plan (TSP) withdrawals process conducted by the U.S. Department of Labor Employee Benefits Security Administration. The audit evaluated whether the Federal Retirement Thrift Investment Board implemented procedures to process TSP withdrawal transactions accurately and in compliance with applicable regulations. The audit also reviewed the status of prior recommendations related to the TSP withdrawals process. The document provides background on TSP withdrawal requirements, the withdrawals process, withdrawal statistics, the audit objectives and methodology, the audit findings and recommendations, and the agency's response.