Are There Penalties for Partial TSP Withdrawals?

I am 56 years old and will retire under FERS after 24 years. Can I withdraw a partial amount from the TSP without penalties?

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.

About the Author

John Grobe is the former President of Federal Career Experts, a firm that provides pre-retirement training and seminars to a wide variety of federal agencies.