Hi FOOLS:I am approaching the time when I will have to begin withdrawing IRA funds. My question regards the contributions I made to TSP. I made those before the government made matching contributions, but can't remember if my contributions were taxed or not. How will TSP be treated at 70 1/2?foolspark
You should ask on the Retirement Investing or Military Fools board to be sure, but I believe that contributions to the TSP are not taxed going in, so you always have to pay taxes on money coming out.I believe the withdrawal rules are substantially similar to the withdrawal rules for a 401(k) -- so withdrawals are required at 70 1/2.Retirement Investinghttp://boards.fool.com/Messages.asp?bid=100154Military Foolshttp://boards.fool.com/Messages.asp?bid=112957
How will TSP be treated at 70 1/2?http://www.tsp.gov/forms/oc97-17.pdf
Thanks, I will check all three links you provided.foolspark
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