Ask The Experts: Money Matters

By Mike Miles

TSP annuity vs. monthly payments

Bookmark and Share

Q: Is it possible to set up monthly payments from your Thrift Savings Plan account and then later have the TSP use part of your funds to purchase an annuity while continuing those payments? Or must both withdrawals be set up at the same time?

A: It is not possible to take a partial withdrawal for a TSP annuity while continuing monthly payments.

Tags: , , , , , ,

Comments

  1. Gary B. Sasin Says:
    October 25th, 2010 at 10:52 am

    Is there any situation where taking a Lump Sum distribution from FERS is more advantageous than taking a monthly annuity when retiring?

  2. Gary B. Sasin Says:
    October 25th, 2010 at 11:03 am

    I am currently in FERS and am eligible to retire at any time.

    My question is if I retire before I am 59 1/2 years old will I be able receive annuity payments from TSP or do I have to wait until I am 59 1/2?