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Lump-sum withdrawal

By Mike Miles on January 29, 2015 TSP withdrawal

Q. I will retire under the law enforcement FERS category. Because I am retiring at 50, I plan to take the life expectancy payments. If I want to take a partial withdrawal of $50,000 in a few years for my son’s college education, can I do this?
A. You may not request a partial lump-sum withdrawal from the TSP after you have initiated monthly payments.

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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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