Q. I’m retiring in March of 2016. If I leave my money in the TSP, can I withdraw from it as needed?
Browsing: TSP withdrawal
Q. I am retiring at the end of January 2016, and I turn 55 in February 2016. I want to make a partial withdrawal from my TSP, then begin monthly payments in the amount of my choosing, beginning in 2017. What forms do I use for this? Since I am retiring, do I have to wait to be notified by TSP?
Q. I am planning to retire within months of hitting 20 years in the government, which will be in September 2016. I will be 57 years old at that time. I will wait until I’m 60 to take my annuity, so I need to fund my existence out of savings for two years or so. My husband currently collects a military retirement and is a federal employee, too. He will quit when I do and will have about eight or nine years in the government. He will also wait so that his payments aren’t reduced. Our only income for the “gap” will…
Q. Can I withdraw partial TSP amount to renovate my home?
Q. After 27 years of diligent saving and investing, I’ve accumulated well over $1 million in my regular TSP account. I also have over $70,000 in my Roth TSP account, and that portion is growing quickly. By the time I retire, I expect my Roth TSP balance will account for around 10 percent of my entire TSP account balance. After I retire at the end of 2017 (at age 62) and before I begin collecting Social Security (at age 66 or 70), I want to convert a good portion of my regular TSP account to Roth assets. The problem is,…
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…
Q. Can I withdraw part or all of my TSP and put it in the Roth account that I have with my bank? I left the federal government workforce three years ago.
Q. I plan on retiring in five months. Can I take a partial withdrawal from my account and have it paid in monthly installments, or do I have to utilize the entire account to receive monthly payments?
Q. In 2012, I began an affiliation with an Edward Jones agent who immediately whipped out the form to transfer my sizable TSP account to an Edward Jones investment account. Last year, I transferred all that account to Fisher Investments, which uses Merrill Lynch as my fund’s custodian. I spoke with a Fisher representative about transferring the IRA portion of my Fisher account back to the TSP. I told the rep that I liked the low investment fee of TSP, but he gave me every reason that TSP was not as good as a full-time manager of my account. He…
Q. I just heard a presentation on a Nationwide indexed annuity and was impressed by the historical returns, insurance company, no annual loss guaranty and right of survivorship. How might I decide if an indexed annuity is the right choice for some of my TSP funds? How might I fund an external annuity with TSP funds? I’m a 63-year-old enrolled in FERS with nearly 30 years of federal service, and I am looking forward to retiring in the next couple of years.