TSP and survivor payouts


Q: I am married with no children. What happens to any remaining balance in my Thrift Savings Plan account if my spouse precedes me in death or dies prior to withdrawing all that is in my account?

A: According to information provided by the TSP, the following order of precedence will prevail in the event that there is no viable named beneficiary:
• To your widow or widower.
• If none, to your child or children equally, and to descendants of deceased children by representation.
• If none, to your parents equally or to the surviving parent.
• If none, to the executor or administrator of your estate.
• If none, to your next of kin who is entitled to your estate under the laws of the state in which you resided at the time of your death.


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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