You are at:Home»Uncategorized»TSP withdrawal penalty after MRA but before 59 1/2

TSP withdrawal penalty after MRA but before 59 1/2

By Mike Miles on April 9, 2013 Uncategorized

Q. I will have over 30 years of service when I reach my minimum retirement age of 57. If I retire and start withdrawing Thrift Savings Plan money, will I pay an extra tax for taking out payments before age 59½?

A. No.

About Author

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.

Leave A Reply Cancel Reply

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.
Search Money Matters
Search for:
SUBMIT A QUESTION

First, please review previous Q&As to see if your question already has been answered. If you cannot find the answer, submit your question to our Money expert at fedexperts@federaltimes.com

PLEASE NOTE! Do not submit ANY questions via the Comments form. Questions submitted via the Comments form will NOT be answered!
IF YOUR QUESTION IS NOT ANSWERED

Federal Times’ experts answer as many readers’ questions as possible but, due to the volume of e-mail, they cannot answer every question submitted. You’ll have the best chance of getting an answer to your question if you follow these steps:

• Ask questions that have not previously been answered. Before submitting a question, review the Q&As already on the site by using "search" above.

• Ask questions that fall within each expert’s scope of expertise. Reg Jones, for example will answer questions about federal civilian benefits; he will not answer questions about military benefits.

• Provide sufficient information about yourself — for instance, a question about retirement should say which retirement system you are in.

• Do not expect personal legal, financial or career advice. Answers that require a legal opinion, particularly those involving divorce and court orders, cannot be provided.
Categories
Categories
Recent Posts
Recent Comments
- Scott McLennan on TSP and IRA required minimum distributions
- Scott McLennan on Annual leave payout at retirement and TSP
- Pat M on Retirement timing for maximum benefit
- Pat M on Social Security dependent eligibility
- Pat M on TSP withdrawal

More Fed Times Blogs

Ask the Experts: Retirement
Ask the Lawyer
Career Matters
Fedline

About Author

Related Posts

TSP fund distributions

Transferring monies between IRA, TSP, Roth IRA and Roth TSP

Max TSP contribution requirement

Leave A Reply Cancel Reply