Q. I am considering a Roth Rollover from my TSP to my external Roth account…Due to my circumstance I will not incur a penalty nor will I have any tax liability. What, if any, other consequences should I consider in making this decision?
Monthly Archives: June, 2014
Q. I plan to retire soon and want to use the TSP annuity but I believe it will go up. Can I use monthly payments when I retire then purchase an annuity if the rate index goes up?
Q. I am 64 and have 4.5 years in FERS. I want to know when i can fully withdraw my TSP? I have asked the base. I have called BEST and I have called OPM. I was told DFAS submits a code in an internal software system. So does that happen six months down the road when my disability retirement is approved?
Q. TSP declares an unpaid loan at retirement as a taxable distribution. Participant is over 70 1/2. Does that taxable distribution satisfy the minimum distribution in the first year of retirement? Any research information is appreciated.
Q. I am thinking about taking a partial withdrawal of my TSP and moving it into an IRA account. My question is, the fees that are incurred when the IRA manager buys and sells positions within the IRA, how are they accounted for? For example, I move $100,000 to a simple IRA managed by my broker. He invests the $100,000 but in doing so his fee is, say $1,000, where does the $1,000 come from? For that matter, what about any future rebalancing within the IRA?
Q. DOB 8/24/43, retired , reach 70 1/2 in 2014, I believe that distributions need to begin in 2015, year following year of a 70 1/2 attainment. Is that correct? Distributions will be done automatically, if I do nothing, am I correct?
Q. Can the employee’s contributions and their associated gains fund balance within an already established traditional TSP account be converted to a Roth TSP account, meaning one could pay the taxes due and convert a specified amount from a traditional TSP account to a Roth TSP account?