Q. I regrettably moved all of my TSP savings to the G fund in 2013. Should I put all or some back into an L fund or other fund now? I am within 3-5 years from retirement.
Browsing: retirement
Q. Besides the $18,500 and $5,000 “catch-up” (if at least age 50) 2018 contribution maximums to the TSP 403(b), can one contribute money beyond these two amounts in the form of after-tax non-matched contributions? At the TSP website it states as follows for the “Annual Addition Limit” of $55,000 per IRC Section 415(c): “An additional limit imposed on the total amount of all contributions made on behalf of an employee in a calendar year. This limit is per employer and includes employee contributions (tax-deferred, after-tax, and tax-exempt), Agency/Service Automatic (1%) Contributions, and Matching Contributions. For 415(c) purposes, working for multiple Federal agencies or…
Q. My wife and I are both 56-year-old retiring U.S. Postal Service FERS employees with over 30 years service. We each want to take a small lump withdrawal from our TSP and also receive monthly payments (not based on life expectancy). Will we be subject to an additional 10 percent penalty tax?
Q. If I take the FERS supplement at age 61 with 30 years service, do I have to take Social Security at 62 or can I defer it until full retirement age at 66 years, 6 months?
Q. Is it possible to continue paying on a TSP loan after retiring from the uniformed services if I step into another federal job that qualifies me for TSP participation?
Q. I was wondering if I would have to pay the 10 percent penalty to make a partial withdrawal from my TSP to pay off my mortgage. I’ll be 56 years old with 32 years of federal service when I retire.
Q. I am currently a CSRS employee with 37 years of service. I plan on retiring in two years and would like to make a withdrawal from my TSP to pay off the remaining balance on my child’s college tuition and possibly pay off a few other debts to be able to retire without debt. Is there any advantage to, or advice you can give on making a lump sum withdrawal and pay off the debts immediately versus a monthly withdrawal covering the debt amounts until the debts are paid off?
Q. When I retire on December 31, 2018, I will have over 400 hours of combined compensatory time and annual leave. If I cash this in at retirement, I understand it may not be paid out until 1-2 months after retirement. As a result, will it be considered earned income for 2019 that will result in a reduction in my FERS annuity supplement for 2019?
Q. When I left the government for six years I pulled out my retirement under CSRS. I since have returned back to the government for the last 17 years. Since I was taxed on it when I pulled it out, can I report it on my taxes as paying back into my retirement?
Q. Can I separate the federal service at 45 years of age (firefighter) with 20 years of creditable service (+4 years military by back) totaling 24 years of service. Then later apply to draw my FERS firefighter retirement of 38 percent when I reach the eligible firefighter retirement age of 50? Would I still receive my Social Security supplement and Thrift Savings Plan benefits without penalties?