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Before You Make an In-Service
Withdrawal
An in-service withdrawal is a withdrawal that you make from your Thri Savings
Plan (TSP) account while you are still actively employed in federal civilian service
(CSRS or FERS) or the uniformed services.
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There are two types of in-service
withdrawals: financial hardship withdrawals and age-59 withdrawals.
Note: You cannot make an in-service withdrawal from a beneficiary participant
account. (A beneficiary participant account is a TSP account that is inherited
from a deceased TSP participant.)
Before making an in-service withdrawal, keep in mind that the TSP is a
retirement savings and investment plan designed to help you save for your
future. If you are covered by FERS or are a member of the uniformed services
covered by the BRS,
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the TSP is a critical component of your federal retirement
benefits and may represent a significant part of your retirement income. Before
you decide to withdraw money from your account while you are still employed,
carefully consider the impact of your decision on your future well-being.
Add your direct deposit information in My Account at least seven days before
you request a withdrawal. It’s safe and easy to add your bank information in
My Account. Adding direct deposit information now helps you get your money faster
when you need it. And receiving your money electronically is faster than waiting for a
check in the mail. For your protection, the destination you wish to send a withdrawal
from your TSP account must be on file for at least seven days before it can receive
funds. If you wait to add your bank information when you request a withdrawal,
you’ll need to wait at least seven days before you can request direct deposit.
CSRS refers to the Civil Service Retirement System, including CSRS Oset, the Foreign Service
Retirement and Disability System, and other equivalent government retirement plans. These
federal civilian employees were hired before January 1, 1984.
FERS refers to the Federal Employees Retirement System, the Foreign Service Pension System, and
other equivalent government retirement plans. These federal civilian employees were hired on or
aer January 1, 1984.
For TSP purposes, members of the uniformed services include members of the Army, Navy, Air
Force, Marine Corps, Coast Guard, Public Health Service, and the National Oceanic and Atmospheric
Administration, as well as members of the Ready Reserve, including the National Guard.
If you are both a federal civilian employee and a member of the uniformed services, you may have
two separate accounts. The information in this booklet applies to each account separately.
BRS is for members of the uniformed services who began service on or aer January 1, 2018, and
others who opted into the system.