Q: I am a federal employee under the Federal Employees Retirement System. In the year and month of my retirement, I will have about $170,000 in my Thrift Savings Plan. In the year of my retirement, can I do a one time withdrawal of $30,000 and not request a monthly withdrawal that year, and then the following year of my retirement start my monthly withdrawals? A: Yes, if you have not used up your one-time partial withdrawal prior to taking the $30,000 withdrawal. — Mike Miles
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Q: I’m planning to retire this calendar year and want to leave my Thrift Savings Plan as is. Will I be able to take TSP distributions at will, or am I only allowed to take a one-time distribution (roll-over)? A: You’re only allowed to take a partial distribution one time. You may also elect a full distribution in the form of adjustable monthly payments and a final single payment, however. — Mike Miles