Q. I am retired at age 63 from the Postal Service. Can I roll over my Thrift Savings Plan funds to a simple IRA without any penalties before I reach 70½? A. Only simple IRA money can be rolled into a simple IRA.
Yearly Archives: 2014
Q. When I retire in two years at age 62, I would like to take a fixed monthly payment out of my Thrift Savings Plan. Can I still leave the balance in the L Fund and earn the rate that the L Fund is earning? A. Yes.
Q. Are the distributions from my tax-deferred TSP account (not Roth TSP) taxed as ordinary income or capital gains when I start drawing the money out? A. Ordinary income.