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Avoiding tax penalty

By Mike Miles on December 8, 2011 Uncategorized

Q: I am 46 and plan on leaving federal service. Can I avoid the 10 percent tax penalty if I use my TSP savings to purchase an annuity?

A: Yes.

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Mike Miles

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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About the 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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