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New withdrawal options now available We're pleased to announce that all participants now have more options when seeking to withdraw retirement savings from their TSP accounts.

Under the new TSP withdrawal options, all participants can take one withdrawal every 30 days. Participants who have left federal service will have no other limitations beyond the 30-day requirement to make partial withdrawals from the TSP.

By having no withdraw penalty, this allows a person to retain all the money they are withdrawing, which does not occur under ordinary circumstances. Even though the additional tax, or penalty, is waived, income taxes on distributions may still apply, depending on which type of account from which you withdraw funds.

You can start, change, or stop any of your employee contributions at any time by submitting the TSP-1, Election Form, to your agency, or using your agency's electronic version of the form. Your TSP election will stay in effect until you submit another election or until you leave federal service.

To request a withdrawal, log into My Account and click on the Withdrawals and Changes to Installment Payments link on the menu. From there you'll have access to an online tool with which to start your withdrawal.

If you want your withholding percentages to be effective for the first payday of 2020, you must make the change in myPay before mid-December. The Defense Finance and Accounting Service and myPay usually require about three weeks to make any changes to your TSP withholding.

There is no perfect time to rebalance. If you want to take a disciplined approach that removes emotion, consider rebalancing every time your TSP drops or increases in increments of 3%, 5% or 10% in value. The percentage you select isn't as important as committing to rebalancing when your reach the threshold.

You can also send a fax to 1-866-817-5023 or write to the TSP at the address found on tsp.gov. IRS publications are available from your local IRS office, on the IRS website at www.irs.gov, or by calling 1-800-TAX-FORM.

Go to myPay and log in. Under the PAY CHANGES heading, select the Thrift Savings Plan (TSP) link. Select the yellow pencil icon to make a change to your TSP contribution. In the resulting pop up window, enter the changes you want to make. ... Select the Continue button to move to the Review stage.