Q. I am a FERS employee age 47 with 27 years of service. I am currently on FMLA and will be resigning and applying for medical disability retirement. I know I can withdraw from my TSP but am not clear on the annuity option tax penalty. I want to withdraw funds to sustain me while waiting for a decision on my disability retirement. A. If you receive a TSP distribution before you reach age 59 ½, in addition to the regular income tax, you may have to pay an early withdrawal penalty tax equal to 10 percent of any taxable…
Browsing: resignation
Q. I resigned from the federal government after 15 years of service and took all my TSP money out. Do I have to pay that money back if I decide to go back and work for the government?
Q. I’m only 26 years old, with nine years of federal service. I recently was forced to resign due to unforeseen circumstances. After I pay off the outstanding balance on a TSP loan, and request a full withdrawal (single payment), to what percentage of my TSP balance am I entitled?
Q. I have a term employee (63 years old) that has worked for five years and paid into FERS and TSP. If he were to retire or resign, does he have to withdraw his TSP at that time?
Q. I turn 56 in February 2016. I plan to resign from the government, and, then, request and draw my retirement with federal health benefits when I reach my minimum retirement age at age 60. I was reading your post regarding FERS formula and saw this: You would only receive a refund of your retirement contributions if you resigned from the government and asked for one. If you did, you’d cancel all future entitlement to an annuity. I am “NOT” going to request a refund of my retirement contributions, but I am going to resign from the federal government. Will my resignation cancel all…