Federal employees saving for retirement through the Thrift Savings Plan will be able to make multiple withdrawals once they retire or reach age 59-and-a-half under a bill signed into law late Nov. 17.
The TSP Modernization Act (H.R. 3031) ends restrictions on withdrawals that the new law’s backers say have discouraged federal workers from participating in the plan. The TSP is the defined contribution component within the Federal Employees Retirement System, which also offers a defined benefit pension.
The Federal Retirement Thrift Savings Board, which administers the TSP, is moving quickly to implement the law, board spokeswoman Kim ...
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