TSP withdrawals and required minimum distribution


Q. I have been taking monthly withdrawals from my Thrift Savings Plan account for several years. I will turn 70½ this year. Do my prior withdrawals affect the amount of the required withdrawals?

A. The required withdrawal each year is based entirely on the closing balance in your account at the end of the calendar year preceding the year for the withdrawal.


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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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