 |
TSP & 72T early Withdrawal- ? definite answer?
06-17-2007, 09:26 PM
|
#1
|
Confused about dryer sheets
Join Date: Jun 2007
Location: Albuquerque, NM
Posts: 3
|
TSP & 72T early Withdrawal- ? definite answer?
Looking for a definite answer to 72T withdrawals from TSP- I'm going out on Oct. 31 and have been frantically (not really) interviewing fee for service financial planners- USAA is also an option- their fees are very low-
but the TSP is looking attractive (low, low administrative fees).
I've searched and can't get any better than a 'maybe' as to the mechanics of it-
thanks in advance-
Plus, if you are on LEAP, do you get the extra 25% when you cash out A/L?
I called the Retirement Branch and am not happy with their ambiguous answer.
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
06-17-2007, 10:08 PM
|
#2
|
Dryer sheet wannabe
Join Date: Jun 2007
Location: Morrison
Posts: 11
|
Hi . . . Go to Employee Express at https://www.employeeexpress.gov/ and log into the TSP site (you may have to register if you've never been there before). After logging in, click on the heading Withdrawals and they have a booklet on that subject in PDF format. By the by, there is other info there, perhaps on the other issues you brought up. Take care . . . Steve
|
|
|
06-17-2007, 10:23 PM
|
#3
|
Confused about dryer sheets
Join Date: Jun 2007
Location: Albuquerque, NM
Posts: 3
|
thanks, but-
. I've read all that stuff but am still unclear- they don't use the term 72T , and there's only one option, instead of three like with an IRA- is sit because its' not an IRA but a 401k?
I just need to be sure since I've got to live with my decision for 9 1/2 years-
|
|
|
06-17-2007, 11:58 PM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,989
|
While a 401k and 72T are models they do not have the exact structure of the TSP which has its own legislation. When I retire I can 1) take it all out as a payment or transfer to an IRA or 2) take a one time portion and keep the rest in the TSP and I can take monthly payments/withdrawals the amount of which can only be changed once a year. And there is an annuity choice. I don't know about law enforcement but whatever it says in the process is so, doesn't need to mention 72T.
__________________
T.S. Eliot:
Old men ought to be explorers
|
|
|
06-18-2007, 05:07 PM
|
#5
|
Confused about dryer sheets
Join Date: Jun 2007
Location: Albuquerque, NM
Posts: 3
|
I called the TSP withdrawal line today and the woman who answered pointed mt to all the helpful FORMS- under "Forms" , on the home page. Answered all my questions- I'll be able to do a partial rollover into an IRA that I can take a 72T from that will match my needs, and leave some in the TSP.
I am a happy boy.
|
|
|
06-18-2007, 05:23 PM
|
#6
|
Dryer sheet wannabe
Join Date: Jun 2007
Location: Morrison
Posts: 11
|
Good deal . . . Happy for you.
|
|
|
 |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|