Re: 59.5 Advice
Originally Posted by Frixxxx
Just a question on this. Is this bill changing the IRS rules or TSP rules? I ask this because I was in the Military Technician Program and as a CSRS employee (that's the old retirement system for you young folk) I could withdraw from my TSP account without penalty at age 55 as long as my status was "retired". Unfortunately, I learned that even though TSP allowed me to make withdrawals without penalty, the IRS would still penalize you if a withdrawal was made prior to reaching age 59 1/2. So nice for these folks if they can start withdrawing from their accounts at age 50 but keep in mind the IRS will still penalize you.
Be careful following the masses...
sometimes the m is silent!!!