TSP Unveils Plans for Expanding Withdrawal OptionsawsDONOTREMOVE
The federal government’s 401(K)-style retirement savings program officials announced in December that they are planning to make it easier for participants to manage their investments.
The Thrift Savings Plan has implemented the 2017 TSP Modernization Act. That law allows federal employees and retirees to make multiple age-based withdrawals from their TSP accounts and remain eligible for partial withdrawals after they leave government. Those who have left government are able to make multiple partial post-separation withdrawals, and retirees will be able to change the amount and frequency of their annuity at any time, instead of only once per year.
Are you confused about these laws and what they mean to you? The Benefit Coordinators can help! We make it our business to say on top of all the changes in the Federal Government pension and retirement plans so we can advise our clients on how to best manage their retirement and benefits. Contact us today for an appointment and see what a difference knowing what your options are and how you can enjoy more of your retirement benefits.
We have years of experience helping Federal Government employees reap the benefits of retiring from government service. You can rely on us to get you the information you need to make those all important decisions.