§1650.31. Age-based withdrawals.
5 C.F.R. § 1650.31
A participant who has reached age 59 1/2 and who has not separated from Government service is eligible to withdraw all or a portion of his or her vested TSP account balance in a single payment. Unless the withdrawal request is for the entire vested account balance, the entire vested traditional balance, or the entire vested Roth balance, the amount of an age-based withdrawal request must be at least $1,000.
An age-based withdrawal is an eligible rollover distribution, so a participant may request that the TSP record keeper roll over all or a portion of the withdrawal to a traditional IRA, an eligible employer plan, or a Roth IRA in accordance with § 1650.25.
A participant is permitted four age-based withdrawals per calendar year for an account.
Notes, amendments, and revision history
Amendments
[68 FR 35503, June 13, 2003, as amended at 75 FR 24785, May 6, 2010; 77 FR 26427, May 4, 2012; 84 FR 46422, Sept. 4, 2019; 87 FR 31683, May 24, 2022; 89 FR 18534, Mar. 14, 2024]
Authority
Authority: 5 U.S.C. 8351, 8432d, 8433, 8434, 8435, 8474(b)(5) and 8474(c)(1).
Source
Source: 68 FR 35503, June 13, 2003, unless otherwise noted.
Amendments
[68 FR 35503, June 13, 2003, as amended at 75 FR 24785, May 6, 2010; 77 FR 26427, May 4, 2012; 84 FR 46422, Sept. 4, 2019; 87 FR 31683, May 24, 2022; 89 FR 18534, Mar. 14, 2024]