Ask The Experts: Money Matters

By Mike Miles

TSP beneficiary

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Q. I am a retired federal law enforcement agent. I retired under the civil service plan but I invested in the FERS system. I am now 70 1/2 years of age, I have a balance of $72,000 in the TSP account and plan to withdraw $500 in monthly payments. If I die, will my wife, who is my beneficiary, continue to receive those monthly payments?

A. Those payments will stop at your death, but your wife may take over the account and resume the distributions.

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