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3.2. Uniformed Thrift Savings Plan (UTSP)
The Uniformed Thrift Savings Plan
If you participated in the Uniformed Thrift Savings Plan (UTSP) while you were on active service, you have several options available, including:
- Leave your money in the UTSP. If your money remains in the UTSP, it will continue to accrue earnings. Although you will not be able to make additional contributions, you will be able to make interfund transfers. You must begin withdrawing from your account no later than April 1st of the year following the year you turn 70.
- Receive a single payment. All or a portion of your account can be transferred to a traditional IRA or eligible employer plan (e.g., a 401(k) plan or your civilian UTSP account).
- Request a series of monthly payments based on a dollar amount or your life expectancy. All or a portion of certain monthly payments can be transferred to a traditional IRA or eligible employer plan.
- Request a UTSP annuity. You must have at least $3,500 in your account in order to purchase an annuity.
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