TSP and retirement


Q. I’m a Postal employee with 37 years (CSRS), and I’m 56 years old. I’m looking to retire this year, and I want to know if I get the money in my TSP account when I retire or do I have to wait until I turn 62?

A. Under the circumstances you describe, you will be allowed to take money from your TSP account after you retire without penalty. See Page 7 of the notice at https://www.tsp.gov/PDF/formspubs/tsp-536.pdf for more information about avoiding the early withdrawal penalty. You qualify for one of the listed exceptions.


About 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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