TSP payment delay


Q. My wife is retiring Oct. 26. I hear that it is taking six or more months to finalize your retirement and receive your first retirement check. Can she begin receiving payments from her Thrift Savings Plan account as soon as she retires or does she have to wait until she receives her first retirement check and her retirement is finalized? She would like to start receiving monthly payments in January.

A. As soon as her agency notifies TSP that she has separated from service, TSP will process her request for 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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