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Thrift Savings Plan Withdrawal Options

Thrift Savings Plan Withdrawal Options

Posted on 12 April 2010. Tags: , ,

If you have more than $200 in your Thrift Savings Plan during retirement from the service, you can opt to keep the money in the account, or withdraw in full through monthly payment single withdrawal as a life annuity, if the amount equals to or exceeds $3,500 The choice of Thrift Savings Plan withdrawal depends on you. You can use any or all of the above options to get back your returns. For instance, say you have $6,000 in your account, you can either withdraw the amount in full, or have a monthly income, or have half amount as monthly income and half as annuity. If you intend to withdraw all the money from your TSP, you can do that effortlessly. You can also opt to transfer funds to your traditional IRA account, or any other eligible plan offered by employer. If you intent to withdraw a [...]

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