Timothy Sumer

What are tsp in service withdrawals – What is a tsp in service withdrawal? 1-800-566-1002 . What are the best types of tsp in service withdrawals and learn how you can avoid the most common mistakes that individuals have made when looking to set up a tsp in service withdrawal. Accessing Your TSP Money Age Based Age 55 - If you leave government service in the calendar year that you turn age 55 or older, rather than 59.5, then you can access the funds in your TSP as a direct withdrawal and not incur the 10% tax penalty. The withdrawal you take in hand will still incur income taxes. Rolling over these funds to an IRA cause this temporary period of avoiding the 10% penalty to end and withdrawals from the IRA will carry the 10% penalty until age 59.5 Age 59.5 - This is the easy one. If you are still actively employed with the federal government and you are over the age of 59.5, meaning it is less than 6 months to your 60th birthday, than you are able to access your funds on...