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.
â¢ Receive a taxable distribution of the entire outstanding balance. Version 4: 04/21/14 Your TSP account is a portable retirement benefit. This means that when you make a full or partial withdrawal of your account after you leave service, you can have TSP transfer part of all of your single payment to an IRA or eligible employer plan.