I have a question regarding retiring early. I plan to retire in 4 years at the age of 52 under fers. I will have approximately $350,000 in my tsp when I retire and plan to file a 72t sepp plan where I will be able to draw approximately $1000/month from my tsp without penalty until I reach 59 1/2. I have another retirement plan that has approximately $150,000 value that I would like to roll over into my tsp but I need to be retired for 1 year before I can rollover that account. My question is, when I start my Sepp plan the first year it will be based on my $350,000 in my TSP. Will I be able to have the amount I receive monthly changed from the original amount which was based on the $350,000 after they receive my rollover? Is the sepp plan re evaluated each year?
-
The Forum works well on MOBILE devices without an app: Just go to: https://forum.tsptalk.com
-
Please read our AutoTracker policy on the IFT deadline and remaining active. Thanks!
-
$ - Premium Service Content (Info) | AutoTracker Monthly Winners | Is Gmail et al, Blocking Our emails?
Find us on: Facebook & X | Posting Copyrighted Material
-
Join the TSP Talk AutoTracker: How to Get Started | Login | Main AutoTracker Page
-
The Forum works well on MOBILE devices without an app: Just go to: https://forum.tsptalk.com ...
Or you can now use TapaTalk again!
Tsp 72t question
- Thread starter chuckjim
- Start date
evilanne
Well-known member
BLUF: Yes, if you use life expectancy method in TSP, each year your payment is adjusted based on 31 December balance & age factor each year.
Use https://www.tsp.gov/PlanningTools/Calculators/retirementCalculator.html to figure out the impact adjusting the balance and age. It is balance on 12/31 divided by age factor each year. You can always call TSP for verification...just make sure you get someone that knows what they are talking about (may take a few calls)
Note: Your 1st payment is calculated based on balance at time of request and the age factor (determined by your age on Dec 31 of current year)
Use https://www.tsp.gov/PlanningTools/Calculators/retirementCalculator.html to figure out the impact adjusting the balance and age. It is balance on 12/31 divided by age factor each year. You can always call TSP for verification...just make sure you get someone that knows what they are talking about (may take a few calls)
Note: Your 1st payment is calculated based on balance at time of request and the age factor (determined by your age on Dec 31 of current year)
