Ask The Experts: Money Matters

By Mike Miles

Thrift Savings Plan withdrawal rules

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Q: I am under the Federal Employees Retirement System with 10 years of frozen Civil Service Retirement System. I withdrew my CSRS and need to redeposit $30,000 to receive full benefits. At retirement, can I take money out of my Thrift Savings Plan to pay this redeposit?

A: You are only permitted to take withdrawals from the TSP under the usual restrictions. There is not special exception for this purpose.

— Mike Miles

Comments

  1. terrance anderson Says:
    July 14th, 2010 at 9:43 pm

    I retiring from the military after 26 years of of service. I have over $18,000 in the TSP. Can I take money from my TSP without being penalized?