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Posted on Friday, 17th December 2021 by Dennis Damp

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My previous article, “Required Minimum Distributions (RMDS) – Are Your Ready,” received considerable interest. I stated, “Many are confused by the Required Minimum Distribution (RDM) requirement for ROTH accounts and how this works. According to the Thrift Savings Plan (TSP), the entire account balance, Traditional and ROTH, on December 31st of each year is used […]

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Posted on Friday, 10th December 2021 by Dennis Damp

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The Internal Revenue Code (IRC) requires that you begin receiving distributions from your account in the calendar year you become age 72 and are separated from federal service. Your entire TSP account—both traditional and Roth—is subject to these required minimum distributions (RMDs). The TSP calculates RMDs using your age, your prior year-end account balance, and […]

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Posted on Saturday, 18th May 2019 by Dennis Damp

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Those approaching age 70 ½ and older are often perplexed about their Thrift Savings Plan RMD withdrawal options and how to efficiently manage the transaction’s proceeds. Some of the concerns are your TSP balance decreases with each withdrawal, annual income and taxes increase, and the earned income potential vanishes for the cash you now have […]

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