TSP options


Q: I would like to know what my options are for withdrawing from my Thrift Savings Plan account? What would be the tax consequences for those options? I am a Federal Employees Retirement System retiree approaching the age of 70.

A: I suggest that you first review the information available at www.tsp.gov including:

The booklet at www.tsp.gov/forms/tspbk02.pdf and the tax notice at www.tsp.gov/forms/octax92-32.pdf.

If, after you’ve studied these, you have any specific questions, I’ll be happy to answer them.

— Mike Miles


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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