How Do You Withdraw Funds From A Federal Thrift Savings Plan?
The Thrift Savings Plan (TSP) for federal employees is designed to disburse funds upon retirement and in certain other instances, such as for loans or account closure if you leave your job before retiring. Since the TSP is meant to help workers save for retirement, the plan places restrictions on how much or how often money may be withdrawn. It’s easy to withdraw funds when you’re ready to retire–here’s how. Determine your best option for receiving your Thrift Savings Plan (TSP) funds upon leaving government employment. You may request fixed monthly payments or purchase a TSP annuity. Make a partial withdrawal upon retirement and request the remainder at a later date. Make a full withdrawal as one lump sum, monthly payments computed by the TSP, monthly payments in an amount specified by you or through the purchase of a TSP annuity. Request your money using the TSP Request for Withdrawal form that was sent to you prior to your withdrawal date or download it from the forms section of th
