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There are several options, but there are different tax consequences for each option. I recommend reading the booklet Withdrawing Your TSP Account After Leaving Federal Service (6/2007) on the www.tsp.gov website. This booklet details all the current options available.

Please note that the TSP will be implementing the Roth TSP by January 2012. This will affect withdrawal options, therefore the booklet will most likely be updated.

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