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.
The money is directly deposited into a member's personal banking account. The payment on the 15th is known as mid month pay, and the pay on the 1st is end of month pay. (End of the month pay used to fall on the last day of the month, but in 1990 was moved one day to the 1st to save money in a fiscal year.) Major components There are a few components which most military members receive.