Need help selecting TSP monthly payment options

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I am distressed on how the TSP withdrawal options work. Here is my scenario, I wont touch tsp until 62, will have about 200k PLUS in account, want to just get monthly payments of say $1500 till its gone, have a spouse who I would like to receive half of payments if I die. I’m going to lump it all into G fund before I retire, what selections do I make? I’m lost. HELP

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Posted by (Questions: 1, Answers: 3)
Asked on September 26, 2019 2:42 pm
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Unfortunately, just as TSP will not advise on what should be done, I am also unable to advise you. However, I will gladly provide you with information from the TSP website on how you can accomplish what you have requested to do. First and foremost, you should download, Withdrawing From Your TSP Account for Separated and Beneficiary Participants, as it will answer your questions and explain how to accomplish that. https://www.tsp.gov/forms/withdrawals.html
Beginning September 15, 2019, the TSP Modernization Act became effective and enhanced the TSP withdrawal options became effective. These new options include installments payments paid monthly, quarterly, or annually and can be changed at any time. These payments cannot be paid to your spouse upon your death as she will be required to make an election from her beneficiary account. She would be able to continue installment payments in any amount, just as available to you.
I hope this information assists you in making your election.

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Posted by (Questions: 0, Answers: 537)
Answered on September 26, 2019 3:18 pm
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Question- So I can leave my TSP account to my wife if I die and she can be my beneficiary and collect installemets if she selects that, correct?

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Posted by (Questions: 1, Answers: 3)
Answered on September 26, 2019 11:05 pm
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Absolutely.

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Posted by (Questions: 0, Answers: 537)
Answered on September 27, 2019 12:06 am