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?
Q. I have a FERS disability annuity (I have not reached my minimum retirement age). It is taxed as ordinary income, but is it considered as earned income for purposes of contributing to an IRA?
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 heard that there is a way to receive a supplement to your federal retirement at age 62 so that you can delay drawing Social Security. I will have 14 years of federal service when I retire at age 62. I am 60 now. Is this the case?
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. I currently work for the Department of the Army. I recently interviewed for a position with the Veterans Administration and was offered the position. When I transfer, will I retain my benefits such as TSP, leave (annual and sick), and others that I believe all fall under OPM?
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?