I Disappear When You Log In - Register

 

I Disappear When You Log In - Register

^^ The Advertisements above disappear once you log in. Not a member? Register Now, it's free! ^^
Results 1 to 4 of 4
  1. #1
    Junior Member

    Status
    Offline
    Join Date
    Sep 2009
    Location
    Seattle
    Posts
    140

    What age can you withdraw your TSP?

    Can air traffic controllers start making retirement withdrawals from their TSP at 50 when they are eligible to retire, or do they incur a penalty like other federal agencies at that age? Does anyone know or have a link to somewhere that explains it? This is assuming a retirement age of before 55. Thanks!

    From a TSP article:

    If you receive a TSP distribution before you reach age
    59½, in addition to the regular income tax, you may have
    to pay an early withdrawal penalty tax equal to 10% of
    any portion of the distribution not transferred or rolled
    over.
    The additional 10% tax generally does not apply to
    payments that are:
    • Paid after you separate from service during or after
    the year you reach age 55;
    • Annuity payments;
    • Automatic enrollment refunds;
    • Made as a result of total and permanent disability;*
    • Made because of death;
    • Made from a beneficiary participant account;
    • Made in a year you have deductible medical expenses
    that exceed 7.5% of your adjusted gross income;*
    • Ordered by a domestic relations court; or
    • Paid as substantially equal payments over your life
    expectancy

  2. #2
    Senior Member

    Status
    Offline
    Join Date
    Mar 2010
    Posts
    250

    Re: What age can you withdraw your TSP?

    you already answered your own question

  3. #3
    Senior Member

    Status
    Offline
    Join Date
    Dec 2008
    Location
    Mexico City
    Posts
    275

    Re: What age can you withdraw your TSP?

    59 without penalty

  4. #4
    Junior Member

    Status
    Offline
    Join Date
    Sep 2009
    Location
    Seattle
    Posts
    140

    Re: What age can you withdraw your TSP?

    Quote Originally Posted by MJ0730 View Post
    you already answered your own question
    Haha, thanks. I guess I was wondering if there was a special provision for controllers because of the early retirement like there is for pensions and Social Security. In this case, if you plan on retiring at 50, it sounds like you should have an additional savings plan to supplement your pension until you can withdraw from your TSP.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •