Q. I am 46 years old. My minimum retirement age is 57. I am covered under FERS. At what age can I start my FERS annuity without penalty? If I retire at age 55 with 33 years of service, can I access my TSP without penalty? If yes, how?
A. If you retire during or after the calendar year in which you reach age 55, your post-retirement TSP distributions will be exempt from the early withdrawal penalty. You take the withdrawal and claim the exemption under IRS rules.