About to retire from the Air Force...

[Snarg]

I am about to retire from the Air Force and have a few questions concerning the money in my TSP account:

1) Can I withdraw my money?
2) If so, how would I do so?
3) How much of a penalty should I expect to pay?

I have no plans of re-investing the money, I am going to use it to help pay down some bills.

Thank you for your time.

 

[clester]

If you withdraw it in a lump sum you will pay income tax plus 10% penalty.

 

[OMA]

ouch!