Fixed index annuity


Q. My husband and I would like to participate in a fixed index annuity offered by a nongovernment company, but the information I gathered about Thrift Savings Plan transfers, withdrawals and annuities is confusing. It appears that if we want any type of annuity, we can only purchase if TSP does it for us, and the choices are extremely limited. Also, there seems to be no “non-hardship” type of distribution available before age 59½ that we can use to move our funds. Am I missing anything here, or are we just stuck with our limited options and no way to move our funds before 59½?

A. If you’re still a federal employee, your only option for withdrawing money from the TSP before you’ve reached age 59½ is through a hardship 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 and view his blog at

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