RMD and TSP 2020
Moderator: Aitrus
RMD and TSP 2020
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.
Re: RMD and TSP 2020
COVID-19 Stimulus Bill: Retirement Plan Changes Q&Aspooner4 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.
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.
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