Author Mike Miles

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

Q. I have a TSP with the federal government and intend on leaving employment with the VA system and go work at another facility, outside the government. Can I take my TSP with me? Also, I have a TSP loan on which that I am making payments. If I am not working for the federal government, how does it work with paying the loan back? And can I roll my existing TSP money into a 401(a) or 457(b)?

Q. I thought the G Fund was supposed to be stable and even though you would not gain much, you should not lose money. I received my TSP statement and it says I lost $3,000 in 2016. So if I lost that much, I really lost more because of what I put in and the agency matches. That’s a lot of money. Did someone at TSP make an error? Does that sound correct that I could have lost money in it?

Q. I retired last April 2016 as a FERS U.S. Postal Service employee with 32 years at 56 (my minimum retirement age) years old with the special retirement supplement. Am I subject to the Social Security earnings limit of $16,920 in 2017 until age 62? I will not be working through full retirement age (66) for Social Security purposes. Will my Social Security benefit become less than what it is projected to be now since I am not putting money into Social Security? If a start monthly TSP payments, should I elect fewer than or more than 10 years? I realize there is…

Q. My current TSP allocation is 75 percent in L2020 and 25 percent in L2030, with my biweekly payroll contributions split 50-50 between the two. I can’t remember when I opened the L2020, but when I realized 2020 was coming much sooner, I opened up the L2030 so my TSP account would continue to earn money once the L2020 flips to the L Income fund. I’m in my early 50s, so I’m really not sure when I’m going to retire. Should I keep going like this, or move everything to L2030?

Q. I will be 58 in May. I have a massive credit card bill that is causing me huge amounts of stress, and it is costing me $100 per month in interest. No, I wasn’t frivolous in my spending, I have a disabled daughter who I have been helping out in addition to her two service dogs. Can I take money out to pay off the credit card even though I currently have an outstanding TSP loan? Or can I cancel my loan and use that $300 per month to add to my credit card debt? If I could do…

Q. The information in the TSP site under the fund comparison matrix for the S Fund says the objective of the fund is to match the performance of the Dow Jones industrial average’s Total Stock Market U.S. Completion Index. So of course I would think when the Dow goes up, the S Fund would go up, yes?

Q. I am a 73-year-old Air Force retiree and TSP account participant. When I had to comply with the IRS’ required minimum distributions requirement at 70½ years of age, I also had regular certificate of deposits of a savings nature (pretaxed) in different facilities such as savings and loans. I elected to consolidate all of my savings for ease of record-keeping and accidentally renamed my CDs as IRA accounts when they matured for a greater percentage of return. Last year I learned that I could contribute again into my TSP account even though I was not working, so I rolled over all of…

Q. I am a FERS employee who will reach 70½ in November 2017. I have not separated from federal service and do not intend to do so for a couple of years. Will I have to make catch-up required minimum distributions for the years I worked past 70½. For example, if I retired at age 73, would I be required to consolidate and withdraw three RMDs the year after I retire to make up for the previously deferred RMDs?

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