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  • Starting in January 2021, we’re making the process easier for participants. If you’re turning 50 or older and are eligible for catch-up, you’ll no longer need to make separate catch-up elections to your TSP account. To learn how to make these contributions next year, visit Catch-up contributions.

TSP payment and annuity calculator

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  1. Introduction
  2. Retirement income
  3. Length of retirement
  4. Monthly income
  5. Annuity options
  6. Results

About TSP installment payments and life annuities

If you’re a separated or beneficiary participant, you have some options if you want to use your TSP account as a source of income to be received at regular intervals. You can elect to have TSP installment payments sent to you either monthly, quarterly, or annually; or you can use all or part of your TSP account to purchase a life annuity. Purchasing an annuity means that you pay now to receive monthly payments that last for the rest of your life or, if you purchase a joint annuity, your joint annuitant’s life. (View Feature Comparison Chart).

This calculator estimates how a given amount of money might translate into monthly income, whether through TSP installment payments or through the various life annuity options. To make the comparison easier, the calculator only shows monthly TSP installment payments, since annuity payments are always monthly. Remember that quarterly and annual payments are also available.

Please note that annuity purchases are irrevocable. Be sure to read the “Life Annuities” section of the TSP booklet Withdrawing From Your TSP Account for Separated and Beneficiary Participants file for more detailed information.

DISCLAIMER: This calculator is provided for informational purposes only. It is not intended to provide retirement income advice or be used as an investment advisory tool or as a guarantee of monthly payment amounts or a final account balance.