Re: [TSPStrategy] 20% tax on withdrawals

I attended it, not that helpful to me--they are for the best insterest of TSP board/company.

My concern is I want the flexibility of distributions not a forced RMD.

So even with Roth TSP, you're required to RMD. so in case I don't need it the RMD means I would lose the tax free captial gain shield.

Isn't it the best to transfer (after 59 1/2 year old) to outside/eventually convert into Roth IRA? 

well, I asked and they would confuse you with a lot "cautions".

-----Original Message-----
From: eljosco@mail.com
To: TSPStrategy@groups.io
Sent: Sat, Jul 24, 2021 2:44 am
Subject: Re: [TSPStrategy] 20% tax on withdrawals

That's interesting to know it happened that way.

An easy way to check out about TSP withdrawals is to attend one of their webinars on this topic. Besides their chat the live Q&As are always helpful. There's one specifically on post-service (retirement) withdrawals coming up this Wednesday at 10am. 

https://www.tsp.gov/online-learning/#tsp-post-service-withdrawals



On 7/23/21 at 7:45 PM, Karol Kusunose wrote:

From: "Karol Kusunose" <lochcarron@msn.com>
Date: July 23, 2021
To: "TSPStrategy@groups.io" <TSPStrategy@groups.io>
Cc:
Subject: Re: [TSPStrategy] 20% tax on withdrawals

This what HAPPENED.....  I requested 20% tax amount and filed it as an RMD.

 

They took out 10% BECAUSE I filed it as and RMD.  In previous years I requested a monthly amount and

they sent 20% as I requested to the IRS BECAUSE I DID NOT designate it as an RMD,

 

This was the verbal explainaton given to me when I called then for an explaination.

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