Are There Penalties for Partial TSP Withdrawals?

By on May 19, 2015 in Q&A, Retirement with 2 Comments

Q: I am 56 yrs. old. I have worked for the Census Bureau for 24 yrs and I am under FERS. I plan to retire in 2015. Can I withdraw a partial amount from my TSP without penalties?

A: Yes, you can take a partial withdrawal from the TSP without penalties if you retire when you plan to at the age of 56.

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About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.