Q. I plan to retire at my MRA, which is 57 with 30 years of service. I plan to start withdrawals of my TSP to supplement my FERS retirement and FERS supplement at that time. Will my TSP withdrawals be subject to an earnings test and impact the amount I receive for my FERS supplement?
Browsing: MRA – minimum retirement age
Q. I’m currently 31 and have 8 ½ years of government service. I’d like to retire as soon as possible, so what is the most practical course of action if you were in my shoes? Working to MRA of 57 (37 years of service), assuming the annuity is enough to support me in retirement, or waiting until 59 ½ to be able to collect the annuity and TSP payments? Or resigning at an earlier age?
Q. I currently have my TSP setup as a Roth account and I’m debating the MRA+10 option for retirement. If I take the early retirement option can I withdraw from my TSP or do I have to wait until I’m 59½ to avoid the penalty?
Q. I’m a federal employee under FERS with a little bit of 11 years of service. I retired active-duty Army, receiving retirement active-duty annuity and disability pay from the Veterans Health Administration. I have no loans through TSP and will have a balance of about $95,000 when I intend to retire in June of this year at my minimum retirement age of 56. I intend to depend significantly upon TSP, $1,000 plus a month, until I reach the age of 62, when my Social Security will start paying out. What would be the consequences of beginning receiving monthly payments prior…
Q. I am a federal dual-status technician with the LA guard. I am 50 as of March 2018 and will have 28 years federal technician time on Sept. 22, 2018. Can I voluntarily retire and draw my FERS retirement, the supplement and my TSP without being penalized the 10 percent? My actual minimum retirement age is 56 years and 8 months.
Q. My spouse is a U.S. Marshal retiring at age 51 with 28 years of service retiring next month. The question he has had a hard time getting answers to is transferring his TSP to an IRA and receiving monthly payments. He would like to transfer his TSP to an IRA to maximize his investment options, but is concerned if he takes immediate withdrawals that he will be forced to pay a penalty in addition to taxes. Is TSP the only option to taking immediate withdrawals before age 59.5? Can immediate withdrawals at 51 be made at firms such as…
Q. I plan on retiring at the end of 2019. At that time I will have over 30 years of service and be over my minimum retirement age (MRA) at 58 years old. My question is, if I meet the MRA and years of service requirement, can I withdraw from TSP prior to turning 59 1/2 without penalty?
Q. I am a 52-year-old federal employee with plans to retire at 54. My minimum retirement age is 59 and 2 months. I will set up the required substantially equal periodic payments for five years to avoid the tax penalty, which will take me to age 59. Does waiting until I am 55 change the plan I have outlined?