Q. I recently lost a high-paying private sector job. I may be getting a much lower-paying federal job. The only way I can make it is to cash out of my 401(k) about $35,000 to pay off debts. But I was thinking if I get the federal job, how long before I can participate in the TSP? And how long before I could take out a loan?
A. You may participate in the TSP immediately following your federal employment. You may request a loan against your account as soon as the account contains at least $1,000 of you own contributions (you may not borrow against agency contributions).
