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 following table reflects the DFAS schedule of military (active and reserve components) pay dates. This information may help to avoid any confusion as to when you should expect to see the payment deposited to your account. Note: Each servicemember has the option of receiving his or her pay one or two times a month. If they select to receive their pay twice a month they will receive semi-monthly pay on the 15th of each month - if the 1st or 15th falls on Saturday or Sunday, payday is the Friday before.