TSP monthly withdrawal, then lump sum 2 years later

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Q. Could you clarify for me the following:

I wish to withdraw funds from my Thrift Savings Plan account (by submitting Form TSP 70, as I am told). To get monthly payments, in section IV, I fill No. 23c: 100% for monthly payments, fixed amount (greater than my RMD).

Suppose two years from now, I want to withdraw the remainder of my TSP funds in one lump sum. Am I allowed to do so? How? By submitting another TSP70?

A. Yes, you may terminate the monthly payments and request a final distribution using Form TSP-79.

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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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