Q. Do you generally recommend fixed-dollar, life-expectancy or annuity payments when taking monthly payments in retirement from TSP?
Browsing: TSP withdrawal
Q. I turned 70 ½ years old in December 2017. I retired Jan 31, 2018. I am just in the process of applying to withdraw my first Required Minimum Distribution from my Thrift Savings Plan, and decide in a few months what to do with the rest of the money. How can I show that is my intention, if the form I am given to fill up is the TSP-70 (Request for Full Withdrawal)? Also, I have already done a one-time withdrawal in 2013 from my TSP account. Now that I am retired, after I am issued the first RMD,…
Q. I’m planning on retiring June 2018. I have 38 years of service at age 57 with and outstanding TSP loan of $20,000. Will I get penalized if my load is not repaid? And can I withdraw the rest of my TSP once I separate?
Q. I am 86 years old and going to retire in 2018. I want to know how much will I have to take out of my TSP account each month? My wife is 18 years younger than me; can this be used to lessen my required funds that I must take when I retire?
Q. I have been offered a U.S. Postal Service VERA and want to take the offer but can not live on just my annuity. How do I get to use my TSP before age 55 without taking a penalty? I have 31 years, all with USPS. I have money in my TSP but no other savings.
Q. I have the opportunity for a one-time lump-sum payment from the Thrift Savings Plan. I have not started taking an annuity from TSP. I am wondering what are the benefits or hazards of taking a one-time lump-sum withdrawal vs. starting taking an annuity? Taxes are great for one-time lump-sum withdrawal, but would it be as painful as just starting my annuity? When is it a good time to take a one-time lump-sum withdrawal? I am thinking of a one-time withdrawal and not starting my annuity until next year.
Q. With the new tax law regulations making it not as beneficial to donate to charity due to not as many people itemizing their deductions, is it possible to directly move money from the TSP to a charity to avoid the tax and enhance the gift to the charity?
Q. I have a current loan that I am paying on in my TSP account. I am counting the days until I am 59 1/2 so I can make a withdrawal. Am I allowed only one lump sum withdrawal or, if I take a withdrawal while I am working, can I take another withdrawal when I retire in 4+ years? Is there a cap on the amount I can withdraw in my lump sum amount? Can I withdraw when I have a current loan with the intent of paying off the loan?
Q. I understand I can change the amount of withdrawal from my TSP on a monthly basis and it has to be at least $25. Is this true?
Q. I just opened a new Roth IRA because I thought I could rollover my TSP Roth funds to it. Now I am being told I cannot. I am retiring at the end of March and was hoping to have this resolved and only keep the traditional money in the TSP. Is this possible to do and, if so, how (forms?), etc?