Monthly withdrawals from TSP

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Q: I will retire Dec. 31 and would like to begin monthly payments from my TSP account in January. I have read that you have to have your withdrawal form completed and sent by Dec. 14 to take effect in January, but I cannot determine which form to fill out to start monthly payments: TSP- 70 to be completed for full or partial payments or TSP-73 to be completed to make a change to your monthly TSP payments.

A: Use form TSP-70 to start monthly distributions.

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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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