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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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kedward777  
#1 Posted : Thursday, November 14, 2019 5:43:52 AM(UTC)
kedward777

Rank: Member

Groups: Registered
Joined: 3/10/2014(UTC)
Posts: 27

Hello,

If I retire from the Federal Government at my MRA (56):

1.) It is my understanding that I am allowed to make withdrawals from my TSP account without paying the 10% penalty. Correct?

2.) However, I hate the low rates of the G funds (<2%), so I am thinking to do a direct transfer from my TSP to an external IRA/401k (> 3% CD's). I believe the transfer would not be subject to penalties since it is a direct transfer, correct?

3.) CRITICAL QUESTION: If I am allowed to make penalty free withdrawals from my TSP at my MRA, then am I also allowed to make penalty free withdrawals from my external IRA/401k (direct transferred from TSP) at my MRA (56)?

Thank you!
Ed

Edited by user Thursday, November 14, 2019 6:56:40 AM(UTC)  | Reason: Not specified

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