Q. I receive a CSRS annuity only, I don’t have any other investments, i.e. TSP, IRAs or anything close. I turned 70 1/2 in 2017 and the required minimum distributions requirement is confusing. From what I’ve read the past couple of days, it appears that I don’t require any RMD for my situation. Can you clarify?
Q. I am 61 years of age and a CSRS annuitant for the past last seven years. My wife is also a CSRS annuitant (age 55). We are both in the L2020 fund. With our joint annuities we are financially whole. My question is, we are contemplating transferring 50 percent of my 2020 fund (approximately $150,000) and 50 percent of her L2020 fund (approximately $70,000) to the L2030 fund. We are both in good health. Please comment on the transfer proposal and the amounts.
Q. Are a spouse’s Social Security retirement benefits subject to the windfall elimination provision after the death of her husband who was a CSRS annuitant? She is eligible to receive the maximum CSRS benefit of 55 percent of her husband’s monthly annuitant benefit.
Q. I am currently a CSRS employee with 37 years of service. I plan on retiring in two years and would like to make a withdrawal from my TSP to pay off the remaining balance on my child’s college tuition and possibly pay off a few other debts to be able to retire without debt. Is there any advantage to, or advice you can give on making a lump sum withdrawal and pay off the debts immediately versus a monthly withdrawal covering the debt amounts until the debts are paid off?
Q. When I left the government for six years I pulled out my retirement under CSRS. I since have returned back to the government for the last 17 years. Since I was taxed on it when I pulled it out, can I report it on my taxes as paying back into my retirement?
Q. I retired as CSRS in 2015 and have a TSP account. I’ve recently decided to hire a financial planner and he recommends to “link” my accounts (savings, IRA, TSP) to a financial management tool that consolidates & updates your investments in order to get a total view of your accounts in one location for analysis. This necessitates providing my user IDs and passwords via secure encryption. The tool does not “store” the user ID or passwords. These tools seem rather common in the financial planning profession. I still have hesitation in providing my info via a tool. Would you…
Q. I am CSRS Offset. I withdrew my retirement funds years ago, and need to make a redeposit. I want to move money from my individual 401(k) to the Office of Personnel Management to make the redeposit. Will OPM report it to the IRS as a rollover, or will it be taxed as if I never re-deposited it?
Q. I owe for service credit when I withdrew my CSRS retirement in 2000. I did return to the government in 2003 and I’m now CSRS Offset. With interest I owe about $78,000. I have recently started making payment so I can receive the credit. I’m 56 and I hope to work until I’m 60. Since the interest continues to accumulate and I don’t have funds to make very large payments, I’m wondering if it would be wise to take out a TSP loan to pay down some of what I owe? If I do retire at 60 would any…
Q. I am planning to retire at the end of the year. Can I still transfer the money in my Voluntary Contribution Plan (apart from the interest) into an existing Roth IRA? I heard that Congress was considering disallowing that move.