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Thrift Savings Plan Participants

What should I do with my Thrift Savings Plan when I retire?


This is by far the most common concern of TSP participants. You've spent years saving and investing into the plan, now we can help you decide the best options going forward. We have years of experience in guiding TSP retirees in how to best use their plans before, during, and after retirement.


Five of the most asked questions that we receive concerning the TSP:


1. How do I get my money out of the TSP?

We can help you do what's called a rollover, where you "roll" your money from your TSP into an Individual Retirement Account (IRA). Once your money is in an IRA there are numerous investment choices that you now have access to that were not available in the TSP, as well as many other benefits.

 

2. Will I have to pay taxes when I move my TSP?

If you do a rollover as described above into an IRA, you will not owe any taxes. The IRS allows for a rollover or transfers without any tax consequences. If you choose other options or have the TSP funds sent to you personally, then you may face some hefty tax penalties, and we'd like to help you avoid that.


3. Do I have to take money out of the TSP or an IRA at a certain age?

Yes. When you reach 70 and a half, the IRS requires you to take Required Minimum Distributions (RMD) from an IRA or other tax deferred investment accounts. We can design a plan for you to strategically prepare for this.

 

4. How long will my money last in retirement, and how much should I take out?

That will depend on how much your investments earn, and how much of it you spend. That's where we come in; we specialize in helping retirees manage their income throughout retirement and making sure that they will have enough to maintain their lifestyles.


5. What forms do I need to rollover my TSP?

You will need a TSP-70, Request for Full Withdrawal. We can provide this form to you once you are ready to roll over your TSP. Click on the button below to contact us and we will be happy to help you.



I'm ready to rollover my TSP!