Q. I am retiring by the end of this year at the age of 56. I read in the Thrift Savings Plan where you can take a one-time withdrawal payment. Do you have to pay a penalty? Do you have to take it at the end of the year? For example, if I retire in December 2011, will I have to wait until December 2012 to take the one-time withdrawal? Can I take a withdrawal as early January or February 2012?
A. Once you’ve retired, the partial withdrawal is available immediately.