Get TSP-70-A 2013

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.

Money that is in the traditional balance of your TSP account is fully taxable as ordinary income when it is withdrawn. This means that it doesn't receive favorable tax treatment like a long term capital gain or a qualified dividend would receive.

Some TSP accounts can't be combined. You can't combine your accounts if both are related to active service. This is the case for a federal civilian employee who also receives military pay and benefits as a member of the Ready Reserve.

RMDs are calculated by dividing the TSP balance on December 31 of the preceding year by a factor derived from the age the participant turns in the year of the RMD. So, if I was 73 and my year-end balance was $350,000, my RMD (using current charts) would be $14,170.

Personal details about the federal employee (name, TSP account number, DOB, phone number, address, spouse's name and SSN if applicable) Other details about the spouse (parts 2 or 3) Withdrawal election. The details of the applicant's transfer.

Employees can contribute up to $19,500 to their TSP plan for 2020, $500 more than 2019. Employees of age 50 or over are eligible for an additional catch-up contribution of $6,500 in 2020, $500 higher than 2019.

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.

It generally takes between 7 to 10 business days to process your request once you've properly completed and submitted it. We disburse withdrawals each business day. You can check My Account at tsp.gov or call the ThriftLine to find out the status of your withdrawal request, including whether the payment has been made.