The TSP has posted a summary of current and upcoming policy changes under the Secure 2.0 law enacted late in 2022 affecting itself and other similar retirement savings programs, including a change effective in January regarding required minimum distributions for retirees age 73 and above.
“Beginning in 2024, Roth balances will no longer be subject to RMDs prior to a participant’s death. Your RMD calculation will include only your traditional balance, and only distributions from your traditional balance will count toward satisfying the RMD amount. If you have a Roth balance in your TSP account, this means your 2024 RMD amount may be less than it would have been,” it says.
“Calculations for RMDs from spouse beneficiary participant accounts will still include the entire account balance, and any distribution from a spouse beneficiary participant account will still count toward satisfying the RMD,” it adds.
