I am a couple years out from retirement and am super happy to see the new changes implemented for the TSP website, especially the ability to change amount being received up to every 30 days.
My question is if we are pulling $1000/mo from TSP and decide to change to $1500/mo do I just go on the website and make the change or do I have to go get a notarized spousal signature to approve the change and upload the form? I anticipate the first year or so being a year where we may need to make changes several times as OPM settles the final FERS pension amount and one time BIG purchases arise as we settle into retirement. Hoping we don't have to deal with a notary each time we change.
Perhaps the new changes are not as user friendly as I am thinking.
From TSP publication Withdrawing From Your TSP Account, pages 7/8:
• If you are a married FERS or uniformed services
participant with a total TSP account balance
of more than $3,500, your spouse is entitled
by law to a prescribed survivor annuity. This is
a joint life annuity with a 50% survivor benefit,
level payments, and no cash refund feature. If you
choose any other annuity, any other withdrawal option, or any combination of options, your
spouse must provide signed, notarized consent for
the withdrawal to be processed. This is also true if
you request a change in the amount or frequency
of installment payments since this could affect the
amount available for an annuity.
Pending AllocationsUnder development. For now, you may view Pending Allocations by going to "fantasy TSP" and selecting "Leaderboard sort" of "Pending Allocations".
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