Q. How much does TSP charge per year and when does the money get taken out?
Browsing: TSP withdrawal
Q. I am looking at my current contributions and comparing Roth, Traditional or a combination of both. In retirement, can I withdrawal from just the traditional side of TSP and leave the Roth alone until later in retirement?
Q. I will be eligible for MRA+10 in a few years. Can I take my TSP funds and roll them over into my traditional IRA account? If so, how would I do so?
Q. I am in the middle of my career. Is there any way to move a portion of my TSP to a Roth IRA and then use it for my kids college without a major penalty?
Q. I will be 61 when I plan to retire with 38 years in service under CSRS the entire time. I am not counting on the TSP as part of my retirement and plan to use the money for home repair, paying certain loans, etc. What penalty/tax percent will I incur? I was planning on retiring in December, but January might be better for taxes on less income received.
Q. I recently submitted paperwork for a partial withdrawal of my TSP account (I am separated from federal service). I submitted this paperwork with guidance from a certified financial planner and after several phone calls to TSP. I wanted $240,000 rolled over into another retirement vehicle. TSP only sent them $112,000 — taxed the balance and sent me a check. When I called them they said their was nothing I could do now since the money had already been disbursed. I haven’t even received the check yet. What recourse do I have? I do not want to withdraw this money…
Q. I am retiring at the end of January 2016 with 32 years in the work force. I’m turning 55 in February 2016. Can I take a TSP loan out in January 2016, not pay it back, but pay the taxes? Does this still conserve my partial withdrawal option down the road? I was told I would have to take a partial withdrawal in the year I turn 55 to avoid the penalty, but if I do that, I eliminate the option later, and the amount I need would bump into a higher tax bracket. I’d ultimately like to take…
Q. I retired from the USPS on Nov. 28, 2014. I was a FERS employee with 35 years of federal service and was 57 when I retired. I transferred my TSP to an IRA in May 2015, I was told that I could not withdraw from my TSP until I was 59 1/2 without paying a penalty. I figured why not move it to an IRA. After reading the many questions on your website and your answers I now realize that this was not true, since we are in late 2015, and the money was transferred in May. Is there a way to go back…
Q. When I reach 59½, can I withdraw my full TSP without a penalty if I still work my federal job until I reach 62?
Q. I resigned after 30 years in federal government. I’m 54 years old — would I be able to withdraw my TSP and still receive my monthly retirement when I reach my MRA of 56 years old?