TSP contributed funds while working


Q. I understand that when I turn 59 1/2,  I can begin withdrawing my TSP contributions without a tax penalty.  May I continue working for the federal government after age 59 1/2 while augmenting my take-home pay with something like a TSP life annuity?  Right now it’s looking like I’ll never be able to retire and am looking for ways to bring more money home to live on.  An extra $1,000 per month or so from a TSP life annuity in addition to my regular federal salary would really help to make ends meet.

A. Yes


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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