Q. I plan to retire in 2019 at age 62 with $1.3 million in my Thrift Savings Plan. I am thinking that I will withdraw from the TSP more heavily in my first 8 years of retirement and wait until 70 to collect Social Security, because of the guaranteed 8 percent return rate. But I realize Social Security benefits may decrease or be limited in the future. And, obviously, if I die sooner rather than later, my survivors take a hit and the government doesn’t pay anything. Thoughts?
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Q. I am a federal employee (6+ years of service) making contributions into a TSP account. I plan on retiring from government service in December 2020. I also have funds in other IRAs. This year I turn 70 ½ years old. Can I still make contributions into my TSP account while I receive required minimum distribution money? Can I take in-service distribution not RMDs?
Q. I will be 58 years old on Nov. 9, 2018. I retired from government service in December 2017 after 30 years and 4 months of service. I at 57 and have heard that I can possibly begin withdrawals without a 10 percent tax penalty due to this fact. I need verification of this, and I also need a wise withdrawal strategy to make my TSP money last the life of my current retirement, although I plan to try to go back to work maybe part-time by Spring 2019.
Q. I currently have my TSP setup as a Roth account and I’m debating the MRA+10 option for retirement. If I take the early retirement option can I withdraw from my TSP or do I have to wait until I’m 59½ to avoid the penalty?
Q. I’m a 44-year-old federal employee with 20 years of service and hopes of retirement at age 62. This means 17 more years of TSP contribution and growth opportunity. I’ve been using the “How much will my savings grow?” calculator for several years now and I attempt to capture a best, medium and worst-case scenario when it comes to the percentages of expected annual rate of return and expected annual pay increase. From a financial advisor perspective, what would you consider a safe range of annual rate of return for TSP growth?
Q. I work for the U.S. Postal Service, but haven’t been there very long. I will be 65 this year and will probably only work for another year or so. Even though my time with the Postal Service has been short, will FERS, TSP and other retirement benefits be available to me as a 20- to 30-year career person? If so, what would be available, and how would I go about getting each of these started?
Q. I’m a federal employee under FERS with a little bit of 11 years of service. I retired active-duty Army, receiving retirement active-duty annuity and disability pay from the Veterans Health Administration. I have no loans through TSP and will have a balance of about $95,000 when I intend to retire in June of this year at my minimum retirement age of 56. I intend to depend significantly upon TSP, $1,000 plus a month, until I reach the age of 62, when my Social Security will start paying out. What would be the consequences of beginning receiving monthly payments prior…
Q. I’m 68, about to retire from the U.S. Postal Service and have $260,000 in the TSP. Trying to choose between a rollover to Edward Jones or keeping in the TSP. I know the fees are high at EJ, but the personal contact is reassuring, and my track record isn’t very good managing my account in the TSP. Advice?
Q. If I retire at 58 this year, and don’t touch my TSP until I’m 60, does the IRS still withhold 20 percent for taxes?
Q. I am a current Department of Defense employee with eight years of federal service. I am applying for disability retirement and Social Security Disability Insurance. Can I contribute to my TSP after I am on disability retirement?