TSP decisions at (and after) retirement


Q: If I retire May 1 at age 55 under the Civil Service Retirement System with 34 years of service, can I leave my $60,000 in the Thrift Savings Plan for a year or two and then, after seeing how life as a retiree goes, start up periodic payments? Or do I have to decide what to do with my TSP account right away?

A: You can delay the decision for as long as you like. You won’t have to start taking withdrawals until you reach age 70 1/2.


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.

Leave A Reply