Senators Introduce Legislation on TSP Withdrawal Options

By Newsroom America Feeds at 7 Apr 2017

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Senators Introduce Legislation on TSP Withdrawal Options https://www.tsp.gov/whatsnew/Content/index.html#options At the TSPs request, Senators Rob Portman and Tom Carper introduced a bill, S. 873, which would eliminate current statutory restrictions on participants withdrawal options. The bill would eliminate the restriction that participants cannot take partial post-separation withdrawals if theyve 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.

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