TSP allotment

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Q. I am a clerk with almost 28 years’ service in the Postal Service and am 60 years old. If I decide to retire this year, can I choose a monthly allotment from my TSP and then when I am 62, change the amount of that allotment from when I retired at 60? Or am I locked in to that amount?

A. You may change the amount of the payment once each year in January.

 

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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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