Medical Center Director. Mrs. McGraw began her VA career as a nurse in 1979. On January 10, 2016, she assumed the role of Director of VA Pittsburgh Healthcare System. Prior to this appointment, she served as Director of Beckley VA Medical Center. Her previous roles at Beckley VA Medical Center include Associate Director and Acute Care Service Line Chief.
This Page is About Knowing It's Possible. You can roll over your TSP funds into an IRA account, but only after retirement or otherwise leaving federal or military service.
The question is: How can I take money out of my Thrift Savings Plan (TSP), 401k, IRA or other retirement plan without paying the Internal Revenue Service (IRS) an extra 10% early withdrawal penalty because I am NOT age 59-Â½ yet? There is a little known IRS rule called a 72(t). It allows you to take equally substantial distributions, to ELIMINATE the 10% early withdrawal penalty normally due for withdrawals prior to age 59-Â½. So let's review how it works. You stop working due to loss of job, or health, layoff, RIF, or an early out offer. You can roll your TSP into an IRA. After the rollover is completed you apply for a 72(t) equally substantial distribution. The IRS allows you to base your payment on the following factors: 1  Your age. 2  The age of your beneficiary. 3  The amount of money you have.