RMD and TSP 2020

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spooner4
Posts: 41
Joined: Sun Dec 25, 2011 9:17 pm

RMD and TSP 2020

Post by spooner4 »

Does anybody have info on the suspension of RMD for TSP. Also what form would I need to do this. Be safe, we will get through this.

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userque
Posts: 658
Joined: Mon May 05, 2014 5:43 pm

Re: RMD and TSP 2020

Post by userque »

spooner4 wrote:Does anybody have info on the suspension of RMD for TSP. Also what form would I need to do this. Be safe, we will get through this.
COVID-19 Stimulus Bill: Retirement Plan Changes Q&A
https://www.fedweek.com/issue-briefs/co ... hanges-qa/
Following is a question and answer document released by the Senate Finance Committee on the provisions of a recently enacted Coronavirus relief measure (the “CARES Act”) that affects the TSP and similar programs; however, neither the IRS nor the TSP has yet issued implementing guidance on the provisions, but they are effective retroactive to the beginning of this year.
...
Q: Am I required to take a required minimum distribution (RMD) from my retirement account this year?
A: No. Provided that your account is an IRA, 401(k) plan, 403(b) plan or other defined contribution plan, all required minimum distributions for these plans have been waived for 2020.
"In the land of idiots, the moron is King."

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