a TSP question

[ravishing]

Hi, I am new here. Can anyone tell me if there are provisions to move money out of TSP (without penalty) into an individual IRA when one is still in service and has not reached the age of 59.5
Thanks a lot.

 

[Guest2]

Hi, I am new here. Can anyone tell me if there are provisions to move money out of TSP (without penalty) into an individual IRA when one is still in service and has not reached the age of 59.5
Thanks a lot.

Welcome aboard. I'll let those more knowledgable address your question.
I'm sure you'll get some suggestions and possibly a link or two for u 2 read

 

[BlueMax]

As of today, there are only two ways to make an In-service withdrawal.

1.) Age based (59 1/2).

2.) Financial Hardship; only up to the dollar amount of the hardship.

You can find these and many other answers, by going to the TSP Homepage http://www.tsp.gov/ and looking under TSP Features.

Good luck and welcome.

 

[Silverbird]

Loans are a different kettle of fish - as soon as you pull one out, you have to start paying it back. If you do not pay back before you retire, you get billed. It also is taxed. So using a loan for a retirement account may not be the best.