Q: Is it possible to set up monthly payments from your Thrift Savings Plan account and then later have the TSP use part of your funds to purchase an annuity while continuing those payments? Or must both withdrawals be set up at the same time?
A: It is not possible to take a partial withdrawal for a TSP annuity while continuing monthly payments.
2 Comments
Is there any situation where taking a Lump Sum distribution from FERS is more advantageous than taking a monthly annuity when retiring?
I am currently in FERS and am eligible to retire at any time.
My question is if I retire before I am 59 1/2 years old will I be able receive annuity payments from TSP or do I have to wait until I am 59 1/2?