How a Hardship Withdrawal Works A hardship withdrawal allows individuals to access funds from their TSP in situations of financial need.

To qualify for a hardship withdrawal, a thrift savings plan participant must have an immediate and significant financial need that necessitates a distribution from his or her TSP account.

Roth TSP withdrawals: Qualified withdrawals from a Roth TSP are tax-free, making this a valuable asset in retirement. Some retirees choose to withdraw from their Roth TSP later, preserving tax ...

Here’s what I’ve learned from financial planners about the various withdrawal options: Withdrawing a large lump sum payment from your pre-tax TSP balance may have unfortunate tax consequences.

From catch-up contributions to required distributions, federal employees face key ages that can shape retirement income, ...

Indirect rollovers involve you withdrawing the funds and sending them to the Roth IRA yourself. Withdrawing funds from a TSP, Roth or traditional, is a relatively straightforward process.

Fact checked by Ryan Eichler Reviewed by Ebony Howard The Federal Employees' Retirement Security Act of 1986 established the Thrift Savings Plan, or TSP. It is a qualified retirement plan for ...

Despite the low costs in the Thrift Savings Plan, there are often more pros than cons to doing rollovers to IRAs, financial professionals tell InvestmentNews.