Q. I have been in the Federal Employees Retirement System as an Army civilian since October 1989 and contribute to TSP. I have active-duty Army time from 1979 to 1989 that I can buy back. I know I should have done this a lot sooner to avoid interest. But I didn’t. Would it still be a worthwhile financial option? I’ve done all the paperwork except to start making payments on the amount determined, which includes about $6,000 in interest and $3,000 for the original amount of the buyback. Would using a TSP loan to pay it all off make sense? I’m 52 and would like to retire around age 60.
A. This question is too complex to answer in a Q&A forum. You’ll need to consult a financial planner or analyst.