Early retirement


Q. My activity is offering voluntary separation incentive payments/voluntary early retirement.  I am 56 years old, have 22 years in service under FERS.  Do I get the 5 percent penalty if I accept the offer?  Am I allowed to withdraw monthly on my TSP?

A. Since you will retire during or after the calendar year in which you reached age 55, you will have access to your TSP account without the early withdrawal penalty.


About Author

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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