TSP early withdrawal


Q. My 55-year-old husband made a TSP withdrawal in November (paid all penalties, etc.). Now he wants to make another withdrawal. Can he make more than one withdrawal within a 12-month period?

A. He is only allowed one lump-sum partial withdrawal using form TSP-77 during his lifetime. Any additional withdrawals will have to be a form of full withdrawal using form TSP-70. He may submit form TSP-70 whenever he likes.


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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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