TSP withdrawal


Q. I turned 70 ½ in April. I want to withdraw the minimum required before the end of this year to avoid getting taxed more next year. How do I request this? It seems they will send it at year’s end, but I would prefer getting it sooner.

A. You may use Form TSP-70 or TSP-77 to request either monthly payments or a lump sum, or both. The TSP will only make sure that your RMD is met if you have initiated 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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