Retirement Withdrawals. Since the TSP is a retirement plan, there is no penalty for withdrawing your money during retirement. If you stop working for the federal government, you can start making retirement withdrawals when you turn 55. If you keep working for the federal government, you need to wait until you turn 59-1/2.
DFAS military pay dates (active duty and reserve) are the 1 st and 15 th of every month unless those dates fall on a weekend or holiday. Whenever a payday falls on a weekend or holiday, pay is issued on the last workday preceding the 1st and the 15th. Active duty and reserve members are paid twice a month.
A military member who retired at 20 years of service received 50 percent of his or her monthly base pay. For each year served over 20 years, the military member received an additional 2.5 percent, up to a maximum of 75 percent of their base pay, at 30 years of service. Military members who entered the service after September 8, 1980, but before August 1, 1986, fall under a slightly different system that pays a little less.