This may sound a fanciful scenario, yet recent events across Europe â including the looming independence referendum in Scotland â tell a very different story. Six days ago, the people of Spainâs most prosperous region, Catalonia, voted overwhelmingly for parties favouring the breaking away from Spanish rule.
1 If you are 55 or older and retired, you can withdraw from your TSP without being charged the 10% tax penalty (which is normally tacked onto early withdrawals) in addition to regular income taxes.
$0. Execute a partial withdrawal of $499,000 from the TSP into your rollover IRAs. You will leave behind $1,000 in the TSP; the minimum balance to retain the TSP account is $200. The remaining $1,000 in the TSP will be split pro rata in the same proportion you had originally (20%/80% Roth/Traditional).