Early withdrawal penalty


Q. I will be retiring under FERS at age 56 (born 1959) with 31 years of service with the Postal Service. If I withdraw my total Thrift Savings Plan account ($500,000) the day I retire, will I be charged an early withdrawal penalty and/or other penalty fees I’m not aware of?

A. No.


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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