Q. Suppose I get an early-out opportunity this year at 52 or even retire at my minimum retirement age of 56 in 2020. Would I then get penalized if I were to start making withdrawals from my TSP before I reached the age of 59½? I have heard that age mentioned in relation to early TSP withdrawals before, but I am not sure how it factors in.
Browsing: MRA – minimum retirement age
Q. I retired last April 2016 as a FERS U.S. Postal Service employee with 32 years at 56 (my minimum retirement age) years old with the special retirement supplement. Am I subject to the Social Security earnings limit of $16,920 in 2017 until age 62? I will not be working through full retirement age (66) for Social Security purposes. Will my Social Security benefit become less than what it is projected to be now since I am not putting money into Social Security? If a start monthly TSP payments, should I elect fewer than or more than 10 years? I realize there is…
Q. I have a FERS disability annuity (I have not reached my minimum retirement age). It is taxed as ordinary income, but is it considered as earned income for purposes of contributing to an IRA?
Q. I was born Jan. 21, 1980, so I’m currently 37. I turn 57 (my minimum retirement age) in 2037. I have 10 years of AD service, from June 1998-May 2008. I joined the civil service a week after leaving the military and now have roughly nine years of service. I have bought back all 10 years of military service but am still in the Air Guard. The Guard position is not linked to my FERS position. If I retire at age 57, do I suffer any penalties or taxes for pulling before age 59½? Or do I need to follow…
Q. I’m 52 years old with 31 years of U.S. Postal Service time. I am contemplating leaving my federal job early. I know my minimum retirement age is 56. I would like to keep my health insurance and life insurance for my family. What are my options at this point? Deferred or postponed? Will I be able to still receive my Social Security supplement at 56? What about the money in my TSP and FERS accounts?
Q. I’m considering deferring retirement. Is it possible and/or advisable to roll my TSP into a self-directed 401(k)? I will need access to cash until I reach my minimum retirement age in 2018.
Q. I am 46 years old. My minimum retirement age is 57. I am covered under FERS. At what age can I start my FERS annuity without penalty? If I retire at age 55 with 33 years of service, can I access my TSP without penalty? If yes, how?
Q. I am a recent FERS retiree with 32 years of credited government service and retired at the minimum retirement age of 56 (I was born in 1959). I thought that I can withdraw my TSP at the MRA without incurring early withdrawal penalties. However, in reviewing my 2015 1099-R from TSP, box 7 indicates a (2), which I understand is an early distribution. Is this information correct?
Q. I am thinking about retiring July 2016 at 56 years old. This is my minimum retirement age (MRA), but I will only have 28 years federal service. Will I be penalized if I start TSP withdrawals before age 59½?