Q: I am 45 years old, with 23 years of Federal Service. I have a target retirement age of 62. I have $90,000.00 in The Life Cycle Fund 2050. I just want to try and maximize my investment potential but I am not familiar with investing. Can you give me some advice or strategy going forward. Thanks.
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Q: I retired CSRS 15 yrs. ago and now at age 70 1/2 years old It’s time to select a qualified distribution from my TSP funds. My Question is this; does my investment scheme remain the same after I start withdrawing money or does TSP move them to a fund of their choice?
Q. I have a term employee (63 years old) that has worked for five years and paid into FERS and TSP. If he were to retire or resign, does he have to withdraw his TSP at that time?
Q. I’m working in the D.C. area and am a GS-15 with 38 years of service. I’m considering a GS-13 position in Florida (retirement state) for the last 4 years (to age 60). I know that my high-3 will be based on my past three years as a 15, but if I do the Florida GS-13 job, would I retire as high-3 of GS-15 at 42 years? The extra four years is a lot if the GS-13 position doesn’t get in that way.
Q. I had 50 percent of my TSP in the G Fund and the other 50 percent in the C Fund. Back in 2014, I lost about $17,000. In the past week I have lost about $8,000. My plan is to retire in January 2017 (I will reach my full retirement in December 2016). I recently changed my contribution to 60 percent to the G Fund and 40 percent to the C Fund. I’m considering just putting everything in the G Fund. It’s very important that I have as much money in my TSP as possible. If I lose a significant amount this year I…
Q. I am a recent FERS retiree with 32 years of credited government service and retired at the minimum retirement age of 56 (I was born in 1959). I thought that I can withdraw my TSP at the MRA without incurring early withdrawal penalties. However, in reviewing my 2015 1099-R from TSP, box 7 indicates a (2), which I understand is an early distribution. Is this information correct?
Q: I am aware of the passage of H.R. 2146 (TSP bill) which allow those under the law enforcement retirement system to access their TSP at age 50 without incurring the IRS’ 10 percent penalty. I retired from the military and was hired under an age waiver as a law enforcement office at the age of 43 (which would mean that if I want to retire under the federal law enforcement retirement system, I would need to complete 20 years of federal service — I have 6 more year before I can retire as a LEO). My question is: How often…
Q. From private industry, I have both a traditional and Roth IRA. As a govt civil servant, I contribute to my TSP. Instead of putting catch up contributions into my TSP, can I place the catch up contribution to my Individual IRA?
Q. I plan to retire under FERS in three years at age 65 with 10 years of federal service. My TSP balance is $130,000. I also have a rollover IRA with our financial adviser from a past employer with a value of $150,000. Would it make sense to roll over my IRA into a TSP now? I’m paying a 1.25 percent annual management fee on the $150,000 and earning about 4 percent annually. A steady 3-4 percent return would be my goal within TSP, as I am getting close to retirement. Would the age-appropriate L Fund be my best bet?
Q. I have 27 years as a federal law enforcement officer under my belt and four before I am mandatory. If I retired on disability, would it affect my 401k and health insurance? I had a kidney transplant in 2011 and open heart surgery for aortic sleeve and valve replacement. I need my current health insurance just to help me with medication costs. Could I access my 401k while waiting to be approved? How long does one receive disability retirement assistance?