Ask The Experts: Money Matters

By Mike Miles

TSP and turning 70

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Q: I’m turning 70 in February, I contribute the maximum to my Thrift Savings Plan, and I plan to work for a few more years. Am I allowed to continue contributing to my TSP in 2011, or will I be penalized with my taxes because I will be turning 70 1/2 in August? Also, will I be matched for my contributions? 

A: Your eligibility to continue participating in the TSP, including any matching, will continue until you separate from federal service.

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