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Lump sum and monthly benefit

By Mike Miles on July 22, 2014 TSP withdrawal

Q. I want a lump sum for a certain amount and monthly withdrawals (not full withdrawal) for 25 years. Can I do both in the same year?

A. The TSP considers monthly payments to be a form of full withdrawal.

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Mike Miles

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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About the 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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