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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.

Making an in-service withdrawal

Applying for a financial hardship withdrawal or an age-based withdrawal

If you have a pending application for an in-service withdrawal or for a TSP loan at the time we receive your request, it will not be accepted. We allow only one request for an in-service withdrawal or loan at a time.

Receiving your in-service withdrawal

We disburse withdrawals each business day. You can log in to My Account or call the ThriftLine to find out the status of your withdrawal, including whether payment has been made. We will also notify you when the funds have been disbursed. Once your payment has been disbursed, you cannot return it. (See 5 C.F.R. § 1650.17(b).)

At your request, we will deposit your withdrawal directly into your checking or savings account via electronic funds transfer (EFT). Otherwise, we will mail your in-service withdrawal check to the address in your TSP account record. If you are transferring your age-based withdrawal to your IRA or eligible employer plan, we’ll mail the check to your IRA or plan.

You should expect that it will take up to 10 business days from the time we receive your properly completed request until the time we send your check.