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Temporary changes to required minimum distributions — As authorized by the recently enacted CARES Act, we’re making temporary changes related to required minimum distributions (RMDs).
- You do not need to make any withdrawals from your TSP account in 2020 to satisfy an RMD, regardless of your age or employment status.
- We will not send any automatic RMD payments for 2020.
- If you make a withdrawal, we will withhold for federal taxes at the rate appropriate for the type of withdrawal you make, without regard to RMD rules that would otherwise apply. You can transfer or roll over to an IRA or eligible employer plan any otherwise eligible withdrawals you make.
Posted: April 13, 2020