Federal Soup
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PAY & BENEFITS
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TSP
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New TSP Withdrawal Changes
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TSP
Administered by the Federal Retirement Thrift Investment Board, this defined contribution plan for federal employees has roughly 4,614,874 participants, and over $358 billion in assets under management. Ask your TSP questions and post related topics here.
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Rank: Rookie
Groups: Registered
Joined: 4/12/2011(UTC) Posts: 33
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NARFE provided a webinar on "New TSP Withdrawal Rules" by Mark Keen, CFP, on 9/30/19. He states TSP withdrawal changes eliminating ONLY proportional traditional and Roth withdrawals results in several advantages. One advantage noted on a slide 12 bullet states, "May take the RMD attributed to Roth balance from Traditional balance". The webinar discussion on goes on to explain that this could be done unless one only has Roth TSP funds in their account and briefly discusses a couple of tax advantage examples associated with this point. The webinar and power point slides (pdf) are available at https://www.narfe.org/fe...tsinstitute/?fa=webinarsThis is the information I was after in my previous TSP Federal soup post to you. This important information is not discussed in your "My Federal Retirement New TSP Withdrawal Changes" articles. You may disagree but Mr. Keen is voicing the same info as the TSP office reps. Your take on the webinar and slides regarding this point? Thanks, Dave
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Rank: Senior Member
Groups: Registered
Joined: 1/25/2012(UTC) Posts: 387
Thanks: 2 times Was thanked: 22 time(s) in 20 post(s)
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Just spoke with TSP rep on the phone. I was hoping I would not need to run to notary everytime myself or my spouse wanted to make a non-recurring withdrawal. No such luck. Same as before...only have to co-sign and notorized onetime if taking regular periodic payments. But if you want to just take out money randomly as needed...you will have to co-sign and notorized each withdrawal.
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Rank: Groupie
Groups: Registered
Joined: 5/8/2009(UTC) Posts: 89
Thanks: 4 times Was thanked: 7 time(s) in 4 post(s)
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I was disappointed by this as well. The only workaround I came up with is to establish an IRA and transfer the highest amount you think you might need for the upcoming year into it in January each year. Then you can just go online with your IRA company and withdraw the amounts you need throughout the year.
You'll still have to get a notarized signature, but only once a year. As long as your estimate is close.
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Federal Soup
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PAY & BENEFITS
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New TSP Withdrawal Changes
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