diff --git a/spring-tx/src/main/java/org/springframework/transaction/interceptor/TransactionAspectSupport.java b/spring-tx/src/main/java/org/springframework/transaction/interceptor/TransactionAspectSupport.java
index ebc56af8f109..7d9a237469b9 100644
--- a/spring-tx/src/main/java/org/springframework/transaction/interceptor/TransactionAspectSupport.java
+++ b/spring-tx/src/main/java/org/springframework/transaction/interceptor/TransactionAspectSupport.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2002-2019 the original author or authors.
+ * Copyright 2002-2020 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -192,7 +192,7 @@ protected TransactionAspectSupport() {
 
 	/**
 	 * Specify the name of the default transaction manager bean.
-	 * This can either point to a traditional {@link PlatformTransactionManager} or a
+	 * <p>This can either point to a traditional {@link PlatformTransactionManager} or a
 	 * {@link ReactiveTransactionManager} for reactive transaction management.
 	 */
 	public void setTransactionManagerBeanName(@Nullable String transactionManagerBeanName) {
@@ -209,7 +209,7 @@ protected final String getTransactionManagerBeanName() {
 
 	/**
 	 * Specify the <em>default</em> transaction manager to use to drive transactions.
-	 * This can either be a traditional {@link PlatformTransactionManager} or a
+	 * <p>This can either be a traditional {@link PlatformTransactionManager} or a
 	 * {@link ReactiveTransactionManager} for reactive transaction management.
 	 * <p>The default transaction manager will be used if a <em>qualifier</em>
 	 * has not been declared for a given transaction or if an explicit name for the
@@ -222,7 +222,7 @@ public void setTransactionManager(@Nullable TransactionManager transactionManage
 
 	/**
 	 * Return the default transaction manager, or {@code null} if unknown.
-	 * This can either be a traditional {@link PlatformTransactionManager} or a
+	 * <p>This can either be a traditional {@link PlatformTransactionManager} or a
 	 * {@link ReactiveTransactionManager} for reactive transaction management.
 	 */
 	@Nullable
@@ -375,7 +375,7 @@ protected Object invokeWithinTransaction(Method method, @Nullable Class<?> targe
 				cleanupTransactionInfo(txInfo);
 			}
 
-			if (vavrPresent && VavrDelegate.isVavrTry(retVal)) {
+			if (retVal != null && vavrPresent && VavrDelegate.isVavrTry(retVal)) {
 				// Set rollback-only in case of Vavr failure matching our rollback rules...
 				TransactionStatus status = txInfo.getTransactionStatus();
 				if (status != null && txAttr != null) {
@@ -388,15 +388,16 @@ protected Object invokeWithinTransaction(Method method, @Nullable Class<?> targe
 		}
 
 		else {
+			Object result;
 			final ThrowableHolder throwableHolder = new ThrowableHolder();
 
 			// It's a CallbackPreferringPlatformTransactionManager: pass a TransactionCallback in.
 			try {
-				Object result = ((CallbackPreferringPlatformTransactionManager) ptm).execute(txAttr, status -> {
+				result = ((CallbackPreferringPlatformTransactionManager) ptm).execute(txAttr, status -> {
 					TransactionInfo txInfo = prepareTransactionInfo(ptm, txAttr, joinpointIdentification, status);
 					try {
 						Object retVal = invocation.proceedWithInvocation();
-						if (vavrPresent && VavrDelegate.isVavrTry(retVal)) {
+						if (retVal != null && vavrPresent && VavrDelegate.isVavrTry(retVal)) {
 							// Set rollback-only in case of Vavr failure matching our rollback rules...
 							retVal = VavrDelegate.evaluateTryFailure(retVal, txAttr, status);
 						}
@@ -422,12 +423,6 @@ protected Object invokeWithinTransaction(Method method, @Nullable Class<?> targe
 						cleanupTransactionInfo(txInfo);
 					}
 				});
-
-				// Check result state: It might indicate a Throwable to rethrow.
-				if (throwableHolder.throwable != null) {
-					throw throwableHolder.throwable;
-				}
-				return result;
 			}
 			catch (ThrowableHolderException ex) {
 				throw ex.getCause();
@@ -445,11 +440,17 @@ protected Object invokeWithinTransaction(Method method, @Nullable Class<?> targe
 				}
 				throw ex2;
 			}
+
+			// Check result state: It might indicate a Throwable to rethrow.
+			if (throwableHolder.throwable != null) {
+				throw throwableHolder.throwable;
+			}
+			return result;
 		}
 	}
 
 	/**
-	 * Clear the cache.
+	 * Clear the transaction manager cache.
 	 */
 	protected void clearTransactionManagerCache() {
 		this.transactionManagerCache.clear();
@@ -780,6 +781,7 @@ public String toString() {
 	@FunctionalInterface
 	protected interface InvocationCallback {
 
+		@Nullable
 		Object proceedWithInvocation() throws Throwable;
 	}