TSP Withdraws Age 56 Retired MRA +10 72T

0
0

I am retiriing at age 56 MRA +10 with a total of 29 Years Service. I realize there is no penalty if I seperate at 56 and begin monthly installments from TSP. Let’s assume I want to take $5000 monthly and my starting balance is $960,000. Am I required to take that same amount monthly for the next 5 years to avoid 72t tax penalty from IRS or can I adjust my monthly installments whenever I choose?

RESOLVED
Blocked by moderator
Posted by (Questions: 1, Answers: 0)
Asked on September 3, 2019 5:12 pm
389 views
2
Private answer

Beginning September 15, 2019, you may adjust your monthly installments whenever you choose. As long as you separate in your 55th year of birth or later, you do not have to be concerned with following 72(t) (substantially equal periodic payments).

Blocked by moderator
Posted by (Questions: 0, Answers: 76)
Answered on September 4, 2019 2:28 am