TSP withdrawals


Q. I am in FERS and considering retiring at my MRA. With my wife continuing to work, my pension (39 years including military buyback and one year of sick leave) and the Social Security supplement, I’m thinking I won’t need to withdraw money from my TSP. Where can I find guidance on when I have to start withdrawals, and how to go about withdrawing annual lump sums vs. monthly amounts.

A. You will have to start Required Minimum Distributions from your TSP account by April 1 of the year following the calendar year when you reach age 70-1/2. Under current TSP rules, you might be able to fulfill the first RMD using your once-in-a-lifetime partial lump-sum withdrawal, but otherwise, you must use 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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