Q: I plan to retire in early 2010 and I am thinking about getting long-term care before leaving. With the government plan going up significantly, do you advice looking at private plan? I understand, John Hancock offers both. A: I always recommend that you compare your employer’s benefits to the retail or other options you may have available. When it comes to long-term care insurance, there are potential advantages of an individual policy over the FLTCIP, depending upon your circumstances. — Mike Miles

Q: I am thinking about dropping my long-term care, or if I keep any, going to a company not associated with the Office of Personnel Management and the government plan. I feel they were not truthful and are in breach of contract with the raise in the premium. I paid the higher premium with the understanding that I would never have an increase. If they were not truthful with this, then I do not trust them for anything in the future; including any benefits when/if I try to collect them. Is it better to keep my current long-term care until…

Q: I expect to retire around the middle of 2010 at 65. I will be using my Thrift Savings Plan savings to supplement my Social Security and my Federal Employees Retirement System pension. I understand that I may leave my money in TSP and take monthly withdrawals from the TSP starting in January. I also believe there is a one time withdrawal that I may make to tide me over between July 2010 until January 2011 when the monthly withdrawals start to kick in. I want to confirm that I may do so without jeopardizing my receipt of monthly withdrawals…

Q: When I retire as a Federal Employees Retirement System employee, what are the options I have in regard to my Thrift Savings Plan account? I am 70 years old and may work for 2-3 more years. A: After you retire, you may maintain your TSP account for as long as you live and continue managing it, as usual, or you may withdraw all or part of your funds and roll over all or part of those distributions to an IRA, as long as the withdrawn funds are not part of a Required Minimum Distribution. — Mike Miles

Q: I have been a rehired annuitant for the past year and have been told that, as such, I cannot contribute to the Thrift Savings Plan. Is that true? A: It’s true. — Mike Miles

Q: I am planning to retire with 23 years of service, under the Federal Employees Retirement System. I heard from an unofficial source that a retiree can outlive his retirement under the Federal Employees Retirement System. I was of the understanding that the retirement was for life — is that not correct? Also, I have seen the response to a couple of questions in regard to rolling over Thrift Savings Plan money to outside funds. The answer has been that you “cannot move TSP money until one separates from federal service.” I am a little confused by that answer, as…

Q: If someone is not qualified to obtain long-term care insurance, short of saving hundreds of thousands of dollars, are there any options to relieve the financial burden? A: Medicaid is the payor of last resort. — Mike Miles

Q: Would I be able to use the funds from my qualified 401(k) that I plan to roll over to make this payment into the Federal Employees Retirement System retirement without IRS penalty, losing 10 percent? For example, if the funds from the previous corporation’s 401(k) was $5,000 and the catch up I needed to make to FERS retirement was $5,500, could I pay that amount with the 401(k) funds and not get a penalty or pay early distribution fees? A: Unfortunately, you can’t roll your 401(k) or IRA funds into your FERS annuity account. If you separated from your…

Q: I have seen your recommended allocations for the Thrift Savings Plan. You mentioned using your lifetime expectancy, therefore placing you in the correct lifecycle fund. At that point, allocate the beginning percentages of that fund and rebalance annually until your life expectancy indicates a change to a different L Fund. This contribution allocation would have resulted in approximately a 30 percent to 35 percent loss in the account within the past two years. Utilizing this method, I would be contributing 15 percent combined to the G and F funds and 85 percent to the risky funds at the age…