Two 1099-R's Received

[evilanne]

I got 2 separate TSP 1099-Rs today. In box 7, the distribution code in 2 on the first one and 1 on the second.
Code-Description
1-Early distribution, no known exception (in most  cases,  under age 59 ½)
2-Early distribution, exception applies (under age 59 ½)

Just a little frustration on my part, the Code 1 results in Tax Penalty unless you meet an exception-- Substantially Equal Periodic Payment (SEPP). It requires a couple of extra steps in TurboTax to eliminate the penalty by putting dollar amount in the exception screen but I'm just annoyed at the new contractor for changing the code.

Currently on hold with TSP

[fish8me]

Same here but I've so far received one 1099... I did make a withdrawal last year and just got my 1099 from TSP... I also got box 7 checked with a 1. I'm retired 1811 so it's listed as "Tax Penalty with No Exceptions".

I'm on the horn with a TSP rep that unfortunately seems like this is his first week on the job. He's making a case no to be forwarded to Operations... I'm been told that it will be reviewed by TSP and corrected if necessary.

Note that Christ Barfield sent out a tweet yesterday stating the same error from TSP on box 7.

[bakismax]

Following to see if I need a corrected 1099. I saw this post & checked my 1099R from TSP. I got the 1 in box 7 also. My previous years were checked 2 in box 7 as I fall under early LEO retirement.

[Fallingh2o]

FYI - I reached out to Larry Cosme who is the national president for FLEOA. He said that he is aware of the 1099R issue and that FLEOA is currently addressing this matter. Hopefully FLEOA will get this matter resolved quickly for all of us.

Also, when I reported my 1099R issue to the TSP I asked the Rep how long would it take to get a corrected 1099R and the Rep said about 2-3 weeks, but that I could call each week to check the status.

[evilanne]

I requested corrected 1099-R & my representative also sent case to operations but did not give me a specific date. She said she did mark it as a priority and to check my notifications in my account.
The people answering the phone generally have no clue about this stuff and are just following their processes.

I am starting to believe that the prior contractor was really pissed off at losing the contract and must have only transferred minimal data (whatever was required by the contract, which was probably inadequate) to the new contractor OR the new one is totally incompetent, maybe both.

[fish8me]

Just 3 more years of this incompetence is what I'm waiting for,,,. After that they'll have $201 just in case they ever get their act together.