TSP withdrawal penalty


Q. My name is Tom Archer. I currently work for a federal agency and plan to retire at age 57 under the FERS program. I did not buy back my military service, so I will only have 17 years with my current agency. If I fully withdraw my TSP funds at that time, what, if any, penalty will I incur?

A. None.


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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