early withdrawal penalty

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TSP withdrawal penalty

By Mike Miles on August 7, 2014 early withdrawal penalty, FERS, TSP withdrawal

Q. Is there a penalty for taking a lump sum TSP balance out at retirement for FERS employee to purchase a home? I may retire at age 56 or 57 with 30 years of federal service. If I decide to take my lump sum at retirement, will I be penalized? How much would come out if the amount is $170,000 right now?

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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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