TSPs — Roth and Traditional


Q. I am 60 years old and was wondering whether I can open a TSP Roth IRA in addition to my TSP Traditional IRA that I started 22 years ago, and withdraw from it in approximately two years without any penalty when I plan to retire and start withdrawing my TSP. What are your thoughts?

A. This could create a problem. See the explanation of the rules covering this, beginning on the right side of Page 1 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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