Q. I am retiring at the end of December and wish to start a partial monthly withdrawal of my TSP. Can I set aside an amount for the monthly withdrawal and leave a balance in the TSP to take as a final withdrawal at a later date? Can the amount of the final withdrawal be rolled into an IRA at that time? Which form do I use to start the monthly withdrawal process? Do I wait until I am officially retired before I file the form and how long does it take for the payments to start?
Q. I’ve been a federal employee for nearly five years now. My previous employer had a Money Purchase Plan and Retirement Savings Plan (401k) that has now totaled nearly $100k via Vanguard. What should I do with those plans since I have not touched them in 5 years? Should I roll them over somehow into the TSP or even an IRA?
Q. After 27 years of diligent saving and investing, I’ve accumulated well over $1 million in my regular TSP account. I also have over $70,000 in my Roth TSP account, and that portion is growing quickly. By the time I retire, I expect my Roth TSP balance will account for around 10 percent of my entire TSP account balance. After I retire at the end of 2017 (at age 62) and before I begin collecting Social Security (at age 66 or 70), I want to convert a good portion of my regular TSP account to Roth assets. The problem is,…
Q. In 2012, I began an affiliation with an Edward Jones agent who immediately whipped out the form to transfer my sizable TSP account to an Edward Jones investment account. Last year, I transferred all that account to Fisher Investments, which uses Merrill Lynch as my fund’s custodian. I spoke with a Fisher representative about transferring the IRA portion of my Fisher account back to the TSP. I told the rep that I liked the low investment fee of TSP, but he gave me every reason that TSP was not as good as a full-time manager of my account. He…
Q. I am a 54-year-old federal worker with a sizeable TSP account balance. My 26-year-old daughter, also a federal worker, invests regularly in the TSP. If I leave my daughter my TSP after I die, is she allowed to transfer the inherited portion of the TSP into her own TSP account? If so, is the inherited TSP money treated the same as her TSP contributions? If not, how so?
Q. I am retiring from federal service after 27 years. I am going to roll my TSP account over into an IRA account. I will have an outstanding TSP loan balance of far less than the value of my account, unless I pay it off. If I decide not to pay it off and take a partial distribution next year for tax purposes, will that delay the processing of my rollover at retirement?
Q. I retired as an air traffic controller at age 50 in 2008. In order to take money from TSP, I had to do it based on life expectancy. Now at 57 I want to make a one-time withdrawal. I’m being told I will not be able to do this for some reason (which is not clearly stated anywhere). Why is this? Where is it stated I cannot make a withdrawal? What are my options now?