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?

FedSmith.com author John GrobeBy Categories Q&A, Retirement Leave a comment

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.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at johnfgrobe@comcast.net to discuss schedules and costs.
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About the Author

John Grobe is President of Federal Career Experts, a firm that provides pre-retirement training and seminars to a wide variety of federal agencies. FCE’s instructors are all retired federal retirement specialists who educate class participants on the ins and outs of federal retirement and benefits; there is never an attempt to influence participants to invest a certain way, or to purchase any financial products. John and FCE specialize in retirement for special category employees, such as law enforcement officers.

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