Ask The Experts: Money Matters

By Mike Miles

TSP loan prior to retirement

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Q. I plan on retiring in September 2014. I bought a house in November 2012 and need some remodeling done.  If I borrow from my Thrift Savings Plan ($10,000), will I have to pay back the full amount borrowed prior to retiring?

A. You’ll have to pay the money back shortly after you retire or it will be declared a taxable distribution.

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