By Mike Miles
June 25th, 2012 | Uncategorized
Q. Can active employees do an in-service transfer of any portion of their Thrift Savings Plan?
A. Yes, if you qualify for a hardship or an age-based in-service withdrawal. Visit www.tsp.com for details.
December 30th, 2011 | Uncategorized
Q. Can I do an in-service withdrawal for a down payment on a house?
A. Only if you are at least age 59 1/2 and have not already taken one, or you can demonstrate financial hardship.
Tags: in-service withdrawals
December 13th, 2010 | Uncategorized
Q: My husband is 60 years old and plans to leave his federal agency by Dec. 31. Is it possible to do a partial withdrawal (in-service) based on his age, then roll the balance of his Thrift Savings Plan account into an individual retirement account when he leaves his job?
A: Yes, as long as he hasn’t taken a partial withdrawal in the past.
April 28th, 2010 | Uncategorized
Q: Can I transfer funds outside federal Thrift Savings Plan system? I would like to invest in some stocks in private sector. I am still working under the old federal retirement system; I will be 63 in June and have 35 years of service. Are there any penalties?
A: You may take one age-based in-service withdrawal and roll it over to any Individual Retirement Account, without penalty. Use Form TSP-75, which, along with detailed instructions, is available at www.tsp.gov.