Yes.
IF you qualify for a full, immediate retirement, such as a minimum retirement age plus number of years of service (56/30) AND ARE OVER AGE 55, then you can make a ONE TIME DECISION TO TAKE A PARTIAL WITHDRAWAL, or you can make a FULL WITHDRAWAL with monthly payments, or you can buy an annuity.
Read this:
https://www.tsp.gov/PDF/formspubs/tspbk02.pdf
ANd this page:
*********Early Retirement
If you receive a TSP withdrawal payment before you reach age 59½, in addition to the regular income tax, you may have to pay an early withdrawal penalty tax equal to 10% of any taxable portion of the payment that is not transferred or rolled over.However, if you separate from service during or after the year you reach age 55 (or the year you reach age 50 if you are a public safety employee as defined by section 72(t)(10)(B)(ii) of the Internal Revenue Code), then the 10% early withdrawal penalty tax does not apply.
There are other circumstances in which the 10% early withdrawal penalty does not apply that are not associated with your age at retirement. For more information, read the TSP tax notice "Important Tax Information About Payments from Your TSP Account."
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If you are retiring with a full, regular immediate retirement, then you are eligible to begin withdrawing a monthly amount immediately.
Full eligibility for immediate retirement is one of the non-penalty clauses of the TSP rules allowing with withdrawal to start before age 59 1/2 without a tax penalty.
However, you MAY want to consider waiting until September, 2019, when many more options for adjusting the amount or when the withdrawal will become effective.
We saw a flyer from the TSP about those
new options coming in September 2019.
Read more on your options when retiring, here:
https://www.tsp.gov/LifeEvents/caree...etirement.html
Good luck!
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