Ask The Experts: Money Matters

By Mike Miles

Lump sum, monthly benefit combo

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Q. I reached my MRA last January with 30 years of service. I plan to retire in January. For 2015, I am planning to withdraw $100,000 and then have monthly benefits of $1,000 from my TSP. Can I do that in the same year? Or do I have to wait in 2016 to start my monthly benefit?

A. A partial lump-sum withdrawal and a full withdrawal in monthly payments can both occur in the same year.

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