By Mike Miles
March 21st, 2012 | Uncategorized
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.
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.