Q. I am in the FERS retirement plan with 30-plus years of service and a plan to retire at age 63 with 42 years of service. I have most of my TSP money in the traditional TSP, but have recently began putting all of my contributions and catch up contributions into ROTH TSP only. I would like to avoid required minimum distributions on my ROTH TSP funds when I retire by transferring this money out of the TSP system into a brokerage account. Is this possible?
Q. I retired from the U.S. Postal Service on March 31, 2018, at age 55 under FERS. I had approximately $18,000 in gross earned income up to that point. I contributed approximately $3,000 to my TSP up to that point also. Can I still contribute $6,500 to my IRA for the tax year 2018?
Q. I just retired under FERS at MRA and on an immediate retirement. As such I am curious about pending legislation that would broaden my TSP withdraw options. If I understand correctly, as written I have few choices currently: lump sum or monthly installments based on life expectancy. Neither option is appealing, as I may need more or less once I understand my financial situation in retirement. I was considering rolling over my balance to another institution so that I had more flexibility in terms of access to my savings. I hesitate because I heard that the TSP rules may…
Q. I am 59 years of age and will retire with 35 years of federal service (FERS) in five years. I have approx $250,000 in TSP. An advisor wants me to rollover $200,000 of my TSP funds into a fixed index annuity with ATHENE. He states if the market goes down it will not affect my monthly allotment. Why would I do this if TSP offers an annuity as well (single life) with lower overhead and surrender fees? In other words, is a fixed index annuity a better option than TSP’s single life annuity?
Q. If I make more money than is allowed under the Special Retirement Supplement for a given year, and make $0 because of the SRS penalty $1 for every $2 earned, but lose my job the following year and don’t work again, would I then start getting my SRS back at the same rate that I was getting before I exceeded the maximum earned income, or would it be gone forever? Would this apply also for getting a partial reduced SRS and losing a job but not the whole SRS? Will it go back to the original amount, or be…
Q. I will be retiring in 2019 under FERS. I’m not a pick fan of annuities but I have read in the past that the MetLife annuity tied into the TSP plan is relatively a good annuity with low costs. I also understand that this MetLife annuity might get even better and easier with the changes now being put into place under the new TSP distribution changes. Can you comment on this specifically?
Q. I have been found disabled by the Social Security Administration (FERS claim is pending). Can I make a withdrawal from my TSP account without the 10 percent penalty? What documentation is needed? I am 52 with 26 years of service.
Q. My plan is to retire on Dec. 31, 2018, at age 58 (under FERS). My TSP balance is just over $1 million. I plan to leave my TSP account with the federal government at this time. My current distribution in the account is as follows: G 8.83 percent; F 17.5 percent; C 31.5 percent; S 32.05 percent; and I 10.06 percent. How would you recommend that I reallocate my funds before I retire?
Q. I am under the FERS system, age 57 with 30 years of service. I am eligible to retire but will probably work another two years and retire at 59. I know that you recommend leaving TSP untapped for as long as possible. If I do this, I would need to take Social Security at 62 to make ends meet. Is this a good strategy? Many financial planners recommend waiting as long as possible to draw Social Security, so I am not sure which strategy makes the most sense.