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Thread: TSP Withdrawal Options Bill Introduced

  1. #13

    Default TSP Withdrawal Options Bill Introduced

    Representatives Introduce TSP Withdrawal Options Bill — (June 26, 2017) On June 23, Rep. Elijah E. Cummings and Rep. Mark Meadows introduced a bill, H.R. 3031, to provide more flexibility on TSP participants’ withdrawal options. The bill would eliminate the restriction that participants cannot take partial post-separation withdrawals if they’ve already taken an age-based in-service withdrawal. It would also permit multiple post-separation withdrawals. Additionally, the bill would allow multiple age-based withdrawals while a participant is still working. Participants would also be able to stop monthly payments and elect to purchase an annuity while receiving monthly payments.

    https://www.tsp.gov/whatsnew/Content/index.html#bill

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  3. #14

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    Default Re: TSP Withdrawal Options Bill Introduced

    It's about time. Let's hope it gets some legs under it.
    "life can only be understood backwards, but it must be lived forwards" - soren kierkegaard

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  5. #15

    Join Date
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    Default Re: TSP Withdrawal Options Bill Introduced

    Quote Originally Posted by alevin View Post
    It's about time. Let's hope it gets some legs under it.
    Yes, there is!

    Last April a similar bill was entered in the Senate. This companion bill in the House on June 26 is a good indication that it does 'have legs'.
    Plus it is supported by the FRTIB.

    And finally, they all think (and rightly so!) that this new bill will stem the tide of retirees exiting the TSP. So they will get to 'keep' the half trillion that is currently in the TSP.

    Interesting article on this in the Washington Post:
    https://www.washingtonpost.com/news/...=.872f257e3ff3

    Still not getting more than 2 IFTs a month though!
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Target Retire date: December 2018.

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  7. #16

    Join Date
    Oct 2010
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    Default Re: TSP Withdrawal Options Bill Introduced

    On yeah....and both bills are bipartisan, both sponsored by R's AND D's!!

    This is happening!
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Target Retire date: December 2018.

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  9. #17

    Join Date
    Dec 2006
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    Oregon
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    Default Re: New TSP Withdrawal Options Legislation Introduced

    NARFE had a webinar regarding benefits of the TSP and leaving $$ there. It was interesting when a couple had both worked for the Gov't and both had TSP's. You can be a member to get to this webinar (and others) for $39.95. A lot of them are put together by Tammy Flanagan. She is a long time HR person. Just my 2 cents worth.

    smile
    NARFE The E is silent, BUT WE ARE NOT.

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  11. #18

    Join Date
    Oct 2010
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    Aiea, Hawaii
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    795

    Default Re: New TSP Withdrawal Options Legislation Introduced

    See more recent posts on this topic in the
    TSP Withdrawal Options Bill Introduced

    thread.
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Target Retire date: December 2018.


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  13. #19

    Default Re: New TSP Withdrawal Options Legislation Introduced

    Merged. Thanks!

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  15. #20

    Join Date
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    Default Re: New TSP Withdrawal Options Legislation Introduced

    Quote Originally Posted by 2moryrs View Post
    NARFE had a webinar regarding benefits of the TSP and leaving $$ there. It was interesting when a couple had both worked for the Gov't and both had TSP's. You can be a member to get to this webinar (and others) for $39.95. A lot of them are put together by Tammy Flanagan. She is a long time HR person. Just my 2 cents worth.

    smile
    You can also access many of Tammy Flanagan's articles on www.goveexc.com.
    My Federal Retirement is also loaded with an abundance of information on retirement.
    My Federal Retirement - FERS / CSRS / Thrift Savings Plan
    Just An FYI.

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