Retirement Withdrawals. Since the TSP is a retirement plan, there is no penalty for withdrawing your money during retirement. If you stop working for the federal government, you can start making retirement withdrawals when you turn 55. If you keep working for the federal government, you need to wait until you turn 59-1/2.
DFAS military pay dates (active duty and reserve) are the 1 st and 15 th of every month unless those dates fall on a weekend or holiday. Whenever a payday falls on a weekend or holiday, pay is issued on the last workday preceding the 1st and the 15th. Active duty and reserve members are paid twice a month.
All military personnel are eligible if they served at least 90 days outside of the U.S. from December 31, 2008 to May 1, 2010. This gives eligible military service members one extra year to take advantage of up to $8000 for first-time home buyers and $6500 for repeat buyers. Service members who qualify must have a contract to purchase a home by April 30, 2011 and close by June 30, 2011.