TSP withdrawal penalty

Q: At age 59 ½ I took a withdrawal from TSP. It was not a loan. I borrow because I could at age 59 ½. I am now about to retire at a age 65. How can I get the rest of my money out of TSP? I have to take a lump sum, correct?

A: You’ll have to take a full withdrawal, which can include monthly payments.


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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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