TSP/FERS Retirement & Age


Q. If I retire under the FERS program at MRA and 31 years, I will be age 57. Can I withdraw from my TSP account in monthly installments without the IRS tax penalty? I cannot find this anywhere in the TSP information.

A. If you retire at age 57, you will be exempt from the early withdrawal penalty on all subsequent TSP withdrawals. See the list of exceptions on the left side of page 7 of the notice at https://www.tsp.gov/PDF/formspubs/tsp-536.pdf.


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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