TSP mandatory withdrawal


Q: I will turn 70½ in 2009. I’m under the impression I have to start withdrawals from my Thrift Savings Plan in 2009, but I was recently told by a friend that TSP changed the required withdrawal date, and I do not have to start required distributions until age 72. I cannot find this information on the TSP Web site. Can you tell me if this is true?

A: I know of no such change. If you are retired, your first required minimum distribution must be calculated for 2009, but you don’t have to take it until April 2010. You will then have to calculate and take your 2010 distribution by Dec. 31, 2010.

— Mike Miles


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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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