Q: I’m a Federal Employees Retirement System retiree, 70 1/2 years old, and have been receiving fixed monthly payments from my Thrift Savings Plan account to cover my living expenses since my retirement in 2006. I will begin required minimum distributions this year and would like to know if the IRS will allow the amount of my annual TSP withdrawals that exceed my TSP yearly RMD to be credited against the RMD requirements due to start this year for the standard individual retirement accounts I hold from credit unions, banks, etc.
A: Your RMD must be calculated separately for each of your retirement accounts, but the RMD amount may be taken from any one, or more, of your accounts. Any withdrawals you take from your TSP during the calendar year will count, in their entirety, against your total RMD requirement for that year.
