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Thread: Updated information about changes to TSP withdrawal options

  1. #1

    Default Updated information about changes to TSP withdrawal options

    Much better TSP withdrawal options IMHO, about time!
    Just FYI:

    https://www.tsp.gov/PDF/formspubs/tspfs10.pdf


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  3. #2

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    Default Re: Updated information about changes to TSP withdrawal options

    The Official Date for the changes to TSP withdrawal options has been set- it will be in place on September 15, 2019. Yes!! )

    Below is a fact sheet now posted on the TSP website, that I've clipped into a JPG document for quick reading here.

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  5. #3

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    Default Re: Updated information about changes to TSP withdrawal options

    Never mind- I can't get it to upload correctly. Here is the link, you can see it, but I can't 0get it to link:

    https://www.tsp.gov/PDF/formspubs/tspfs10.pdf

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  7. #4

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    Default Re: Updated information about changes to TSP withdrawal options

    NEW: TSP Retirement Webinars on New Withdrawal Changes and on other topics:

    I just cut and paste it from an HR message I received today which is encouraging that it be shared with other TSP members, beneficiaries, spouses, etc.
    So here it is:


    The following is information from the Federal Retirement Thrift Investment Board (FRTIB). The Education and Outreach Division of FRTIB has updated the TSP webinar information at https://www.tsp.gov

    TSP is now hosting a webinar dedicated solely to the upcoming withdrawal changes: Your New TSP Withdrawal Options (1 hour). This webinar provides an overview of the additional TSP withdrawal options that become available to participants after September 15, 2019. The dates and times for this webinar are listed below.

    Your New TSP Withdrawal Options:
    Monday, July 15, 2019 at 8 PM ET
    Thursday, July 18, 2019 at 8 PM ET
    Tuesday, July 23, 2019 at 7 AM and 1 PM ET
    Tuesday, August 6, 2019 at 10 AM and 1 PM ET
    Thursday, August 15, 2019 at 10 AM and 1 PM ET

    Additional Webinar Topics Include:
    TSP Loans and In-Service Withdrawals: Wednesday, July 10, 2019 at 10 AM and 1 PM ET
    TSP Contributions and Investment Funds: Thursday, July 11, 2019 at 10 AM and 1 PM ET
    TSP Post-Service Withdrawals: Wednesday, July 24, 2019 at 10 AM and 1 PM ET
    Intro to TSP: Thursday, July 25, 2019 at 10 AM ET and 1 PM ET

    Participants can register for all tsp webinars via tsp.gov: tsp.gov/webinars. The registration password is TSPweb. Participants can access the recorded webinars on our YouTube channel at TSP4gov: youtube.com/tsp4gov/playlists.

    TSP encourages you to send out this information to anyone that would be interested in the webinars. That includes participants, spouses, beneficiaries, and more. Webex is used for the webinars. Participants will need access to Webex via a work or personal device. Participants do not need a Webex account to register or attend. You will also notice a few time slots that are outside of our normal 10 AM and 1PM sessions. TSP is testing out a few 8 PM and 7 AM sessions for the new webinar topic. (All scheduled start times are listed in eastern.) Updates to the August through October webinar schedule will be available soon.


    Quote Originally Posted by James48843 View Post
    The Official Date for the changes to TSP withdrawal options has been set- it will be in place on September 15, 2019. Yes!! )

    Below is a fact sheet now posted on the TSP website, that I've clipped into a JPG document for quick reading here.
    CURRENT: 10/24/19 = G100% // PRIOR: 10/9/19=10F, 20-I, 70G // 10/4/19=I-25, C15, S10 & G10-F40// 9/23/19=G80-F20// Chart Links=Page 215, #2575 & 2576

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  9. #5

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    Default Re: Updated information about changes to TSP withdrawal options

    Note: This email arrived in my inbox today- from the TSP- saying that the period of NO WITHDRAWLS is about to be here, until September 15., when the NEW SYSTEM will be in place.

    Here is the message.

    . Withdrawal requests suspension period

    As we prepare for the upcoming launch of new, flexible TSP withdrawal options, we will temporarily stop accepting withdrawal requests after September 6, 2019. The suspension period will extend from September 7 – 14, 2019. Therefore, if you need to withdraw money before the withdrawal changes take effect, we must receive your properly completed request by 11:59 p.m. eastern time on September 6, 2019. We will resume accepting withdrawal requests on September 15, 2019.

    We will continue to accept loan requests and other forms not related to withdrawals during this time. This transition period allows us to finish processing withdrawal requests we receive before the rules change and prepare to accept new requests after the new withdrawal options go into effect on September 15.

    To find out more about how improvements to TSP withdrawals may benefit you, read our fact sheet Questions and Answers about Changes to TSP Withdrawal Options (pdf). If you were planning on making a withdrawal soon, consider waiting until September 15 or later so that you can use more secure online tools in My Account and take advantage of more flexible options.

    You are subscribed to TSP Plan News for Thrift Savings Plan. This information has recently been updated, and is now available.



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  11. #6

    Default Re: Updated information about changes to TSP withdrawal options

    Being able to make changes to my monthly withdrawal on-line will be great

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  13. #7

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    Default Re: Updated information about changes to TSP withdrawal options

    Especially timely for me. I'm thinking about retiring soon- hit my MRA and years back about 6 months ago. Decided to wait until at least after this change comes into effect- because I'm not going to have enough cash on hand/leave payout to last for the four or five months it takes to get the retirement payments sorted out- and I wanted to get the TSP to be able to hold me over until my Army National Guard retirement kicks in next August. THEN, I can readjust my TSP withdrawls (if needed) to align better with my actual cash needs.

    I am thankful these changes are hitting right now.

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  15. #8

    Default Re: Updated information about changes to TSP withdrawal options

    Quote Originally Posted by James48843 View Post
    Especially timely for me. I'm thinking about retiring soon- hit my MRA and years back about 6 months ago. Decided to wait until at least after this change comes into effect- because I'm not going to have enough cash on hand/leave payout to last for the four or five months it takes to get the retirement payments sorted out- and I wanted to get the TSP to be able to hold me over until my Army National Guard retirement kicks in next August. THEN, I can readjust my TSP withdrawls (if needed) to align better with my actual cash needs.

    I am thankful these changes are hitting right now.
    Hoping I have the option of stopping for a while and then starting back up - just read overview, don't know if it will have "open season" or not -- if not sweet (I punched at 56, bought my retired military (took early retirement 17 years enlisted) so had 37 years total - but my FERS supplement is much lower than my SSA will be in a couple of years and my VA disability has gone up, so I need less of my TSP and I hope to make that last until my mid 80's at which time I shouldn't need it - if I can reduce it or even stop it during down trends in market I can make it last much longer

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  17. #9

    Default Re: Updated information about changes to TSP withdrawal options

    If your traditional TSP is invested in G (50%), C (25%) and S (25%), how is money withdrawn from your account? Is it withdrawn proportionately?
    Example: if you want $5000 monthly, is $2500 withdrawn from G and $1250 each from C and S funds?
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1


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  19. #10

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    Default Re: Updated information about changes to TSP withdrawal options

    Quote Originally Posted by exnavyew View Post
    Much better TSP withdrawal options IMHO, about time!
    Just FYI:

    https://www.tsp.gov/PDF/formspubs/tspfs10.pdf
    It is an improvement. However, you still have to go through the hassle of obtaining a notary (spouse signature required) when making changes to monthly disbursement payments. Even if you're reducing the payment amount.

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  21. #11

    Default Re: Updated information about changes to TSP withdrawal options

    Quote Originally Posted by Maricar19 View Post
    If your traditional TSP is invested in G (50%), C (25%) and S (25%), how is money withdrawn from your account? Is it withdrawn proportionately?
    Example: if you want $5000 monthly, is $2500 withdrawn from G and $1250 each from C and S funds?
    TSP's Response: "This responds to your inquiry of September 15, 2019, concerning your Thrift Savings Plan (TSP) account. You asked if your withdrawal is made proportionally from each of your investment funds.
    Your understanding is correct. Any withdrawal that you make from your TSP account will be disbursed from each of the funds you are invested in based upon the percentage of your balance in each of those funds."
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

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  23. #12

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    Default Re: Updated information about changes to TSP withdrawal options

    Quote Originally Posted by Maricar19 View Post
    TSP's Response: "This responds to your inquiry of September 15, 2019, concerning your Thrift Savings Plan (TSP) account. You asked if your withdrawal is made proportionally from each of your investment funds.
    Your understanding is correct. Any withdrawal that you make from your TSP account will be disbursed from each of the funds you are invested in based upon the percentage of your balance in each of those funds."
    Good information. Thanks.
    May the force be with us.

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