TSP payouts


Q. Will TSP only pay out over a 30-year period? If so, then what happens to the money if I happen to pass away at 70? Can a beneficiary be set up so the rest of the money in the TSP will be paid out??

A. The TSP does not limit monthly payments to 30 years. If you pass away at any time, your account balance will be paid to your beneficiaries. I suggest that you review the information available at www.tsp.gov and then ask a specific question that is not answered by the literature.


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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