I separated from Federal service in 2009 and have been self-employed since. The current pandemic has taken a toll on my business, so I am taking advantage of The Cares Act and withdrawing 100K from my TSP. 'm going on week 3 and still no deposit to my checking account, still showing vested in the L fund as of today. The initial 5 days after my fax was received they sent me a letter requesting more information from me, so I called. They asked about a 2 dozen questions (some very obscure), some in which I had to dig up paperwork from 2009 just to answer. They then ended the conversation and said "OK, it's successfully processed, you should receive your funds in 3-5 business days, it's now been 17 days and account still says "You have a partial withdrawal request that should be processed on 04/06/2020"
I've had a great couple of years, turned 90K into 137K and I moved my funds into standard L from L2030 just before the crash 2 weeks ago. I personally feel the market is going to drop again in the next 6 months and take some time to recover. So I would rather grab that 100K seeing the penalty is waived and heck, just pay my bills, buy food etc until my business gets back in it's feet. So, I would appreciate if TSP would not drag it's feet on this.
I've had a great couple of years, turned 90K into 137K and I moved my funds into standard L from L2030 just before the crash 2 weeks ago. I personally feel the market is going to drop again in the next 6 months and take some time to recover. So I would rather grab that 100K seeing the penalty is waived and heck, just pay my bills, buy food etc until my business gets back in it's feet. So, I would appreciate if TSP would not drag it's feet on this.
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