This video will demonstrate the withdrawal options for TSP.... ( read more )
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The Thrift Savings Plan (TSP) is a retirement savings plan for federal employees and members of the military. It offers several withdrawal options for participants to access their funds in retirement. Here are the most common TSP withdrawal options: 1. Single payment: This option allows you to withdraw your TSP account balance in a lump sum payment. You can transfer the payment to an IRA or use the money as you see fit. However, lump sum payments can have significant tax implications, especially if you withdraw a large amount at once. 2. Monthly payments: This option involves receiving a fixed monthly payment from your TSP account. You can choose to receive payments for a set period or for the rest of your li...
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