Content Overview 
- Summary
- Withdrawals For Hardship
- The Definition Of A 403(B) Plan Also Known As A "TSA"
- What Are The Benefits Of A 403B Plan?
- Limitation On The Amount Of Contributions To A TSA
- If You Have Been With The Organization For More Than 15 Years
- How Contributions To The Plan Are Made
- Permitted Investments For Money In A TSA
- Borrowing From A TSA
- If You Become Disabled
- If You Leave Your Employer Before Age 59 1/2
- If You Retire Or Leave Your Employer And You Are Older Than Age 59 1/2
- Forced Withdrawal Of Money From A TSA At Age 70 l/2
- What Happens To The Money In A TSA If I Die?
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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