Thread: Withdrawal Question

Originally Posted by fdavey

I have a quick question. My husband left the DOD system and we filed to have his TSP cashed out and direct deposited to our bank account. We are in desperate need of this money. Does anyone know how long this takes? Online it said 10 days. I check every day for an update and it just says it is still pending. Any thoughts?

My Wife cashed her's out recently. I believe it took around 10 days.

So far it has been 20 days.

This is from tsp.gov:

When can I expect to receive my money?

Generally, it takes several weeks from the time the TSP receives all of your information until you (or your financial institution) receive the money for your withdrawal. You may get your money in less time if you can complete your request on this Web site. Also, if you choose to receive your withdrawal by EFT instead of by check, you may get your money sooner.

It could take longer to receive your money if your agency has not notified the TSP of your separation from Federal service or you have an outstanding TSP loan.

I'd at least touch base with them:

Hours of Operation: Monday through Friday,
7:00 a.m. through 9:00 p.m. eastern time.

Telephone: 1-TSP-YOU-FRST (1-877-968-3778)

Restating the key issue:
It could take longer to receive your money if your agency has not notified the TSP of your separation from Federal service.

TSP has to wait, till they recieve the paperwork from OPM.

TSP already verified that he was reported as seperated.