TSP automatic distribution


Q. DOB 8/24/43, retired , reach 70 1/2 in 2014, I believe that distributions need to begin in 2015, year following year of a 70 1/2 attainment. Is that correct? Distributions will be done automatically, if I do nothing, am I correct?

A. Your first RMD must be completed by April 1, 2015. Your second RMD must be completed by 12/31/2015. The payments will not be automatically computed and sent unless you have requested monthly payments using form TSP-70.


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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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