TSP at 70 1/2


Q. If I retire at 59, leave my money in TSP and immediately start taking monthly payments, can I leave my money there past 70 ½ and continue drawing monthly payments?  Someone told me at 70 ½ I have to take it all out, but that’s not the way I understand it.

A. You were misinformed. You may leave your money in the TSP for life, as long as you take the Required Minimum Distribution each year after reaching age 70 1/2.



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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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