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403(B)/ TSA Plans

If You Retire Or Leave Your Employer And You Are Older Than Age 59 1/2

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If you retire or leave your job after age 59 1/2, you will be eligible to make withdrawals from your TSA plan without penalty. However, you will have to pay income taxes on the distribution.

Your options for where to keep the money are the same as if you leave your job before age 59 1/2: you can leave the money with your employer, withdraw it all as a lump sum, roll it over to an IRA, or do a trustee-to-trustee transfer. To learn more, see If You Leave Your Employer Before Age 59 l/2, above.

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