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Pay a debt to the government

By Mike Miles on November 17, 2015 TSP, TSP withdrawal

Q. Is the 10% penalty for early withdrawal waived if the money is used to repay a debt to the government?

A. There is no exception for this for early withdrawals from your TSP account.

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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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