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Frequently Asked Questions Retirement

How long does it take to withdraw money from the Thrift Savings Plan (TSP)?

It may take up to eight weeks to process a withdrawal after all properly completed withdrawal forms and separation data have been received by the TSP Service Office. Further, the TSP Service Office cannot process a withdrawal election until they receive an Employee Data Record from your payroll office indicating that you have separated.

An unpaid TSP loan may delay disbursement of the TSP account balance.

Your employer will provide you with information about your withdrawal options and the option to keep your money in the TSP.  If you choose not to withdraw your funds, in the event of your death the TSP Service Office would pay the funds based on your written designation form on file.  If you have not completed a designation form, payment would be made to your survivors as follows:

  • Widow or widower.
  • If none of the above, child or children and descendants of deceased children by representation.
  • If none of the above, retiree's parents or to the surviving parent.
  • If none of the above, the executor or administrator of the retiree's estate.
  • If none of the above, to any other of the retiree's next of kin who is entitled under the laws of the state in which the retiree resided at death.
Read more about the Thrift Savings Program.

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