Browsing: FERS

Q. I am covered under the FERS and plan to retire at the end of April 2017 at age 57 with 33 years of service. I intend to take out a TSP general purpose loan just prior to retirement to pay off some debt and then employ a combination withdrawal strategies for the remaining balance: TSP monthly payments, partial lump sum (paid to me) and a rollover to an qualified IRA. I want the monthly payments to start as soon as possible but delay the lump sum and rollover to occur in 2018. Is this a sound plan? Can the…

Q. I am a 54-year-old FERS employee and have 27 years of federal service. I have a TSP account and would like to start a Roth TSP this year. I will probably work until I am 62 years old. At age 60, when my girls start college, can I take a withdraw from my Roth TSP to pay for their college without penalty?

Q. I am a FERS employee with the U.S. Postal Service. I plan on leaving this summer when I’m 58. I have read that I can be less than 59½ years old to withdraw from TSP and not be penalized for early withdrawal, as long as I am completely separated from USPS. Is this true? Also, along with my pension, I plan on with drawing about $1,200 per month from my TSP. Will I be taxed less by taking out monthly amounts than if I took out the entire amount?

Q. My husband is retiring in April 2017. He is on FERS and has TSP and pension. Does he have to leave his money with the government to keep health insurance?

Q. I am in the middle of a divorce after 30 years, and my husband’s attorney has requested my TSP statement and a document verifying the benefit and a current plan summary and description of my FERS account. Is my husband entitled to both of my pension benefits and my FERS account?

Q. I’m 52 years old with 31 years of U.S. Postal Service time. I am contemplating leaving my federal job early. I know my minimum retirement age is 56. I would like to keep my health insurance and life insurance for my family. What are my options at this point? Deferred or postponed? Will I be able to still receive my Social Security supplement at 56? What about the money in my TSP and FERS accounts?

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