Depending on when you begin retirement, you can simply leave the money in the TSP let it continue to grow. If you do not need to access it yet, it might be wise to let it be. Similar to other retirement accounts, you will need to begin minimum withdrawals at age 72. This is called a Required Minimum Distribution (RMD).

Where do I find my TSP R 1099?

When will Form 1099-R be available and where can I find it on the website? For participants who received a withdrawal or other taxable distribution during the calendar year, 1099-Rs are mailed by January 31 each year, and electronic versions are available online the first week of February in My Account: Statements.

How long does a Thrift Savings Plan withdrawal take?

It generally takes between 7 to 10 business days to process your request once you’ve properly completed and submitted it. We disburse withdrawals each business day. You can check My Account at tsp.gov or call the ThriftLine to find out the status of your withdrawal request, including whether the payment has been made.

Do I need to claim my TSP on my taxes?

A traditional thrift savings plan lets you fund your account on a tax-deferred basis. No federal income tax is taken from your contributions, thereby giving you a tax savings at the time of payroll deduction. Your traditional TSP contributions should not be included in your taxable gross pay on your tax return.

Can I withdraw money from my Thrift Savings Plan?

If you are 591/2 or older, you can make withdrawals from your TSP account while you are still employed. This is called an “age-based withdrawal” or “591/2 withdrawal.” You must pay income tax on the taxable portion of your withdrawal unless you transfer or roll it over to an IRA or other eligible employer plan.

How can I withdraw money from my Thrift Savings Plan?

For detailed information on your withdrawal options, specific tax consequences, withdrawal change requests, and special withdrawal considerations, visit Before you withdraw or read the TSP booklet, Withdrawing Your TSP Account for Separated and Beneficiary Participants.

What kind of funds are in Thrift Savings Plan?

A fund containing government securities that are specially issued to the TSP. F Fund Is this fund for me? A fund containing government, corporate, and asset-backed bonds. C Fund Is this fund for me?

How do I change my address on my Thrift Savings Plan account?

You will need to enter your TSP account number and your web password to make this change. You may also call the ThriftLine to change your address. Active participants must notify your agency or service when you have an address change. take me to My Account.