Ask The Experts: Money Matters

By Mike Miles

Full TSP withdrawal at age 59

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Q. I left federal service and have $4,019.42 in my TSP account. I requested a
full withdrawal. Will I get the full amount less the 10 to 20 percent that is with
held for taxes?

A. Your payment will be subject to 20 percent mandatory tax withholding.

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Comments

  1. Al R Says:
    June 1st, 2012 at 10:01 pm

    If you roll the amount into a traditional IRA you won’t be hit with that 20% tax.

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