Browsing: retirement

Q. I am a FERS employee planning to retire at age 60 in October 2017. I may use a one-time withdrawal option to withdraw some of the money (roughly 20 percent of the total ) from TSP to pay off some debt in 2017 before retiring and keep the remaining money as a pensionlike cushion (for years 2018 and 2019) until I reach age 62 and am eligible for Supplemental Security Income. Withdrawing and keeping the funds as cash in 2017 will add to my income and take me into a higher tax bracket . What options do I have to keep…

Q. I am 73 years old and a full-time government employee. I meet my annual IRA withdrawal through a non-government IRA investment. I also receive an annuity from TSP from an early retirement in 1999. I intend to fully retire in two more years. Should I keep the current annuity or roll it over into the final retirement? Also, will I have to take a mandatory retirement withdrawal annually as I now do with the non-government IRA? Is it mandatory for me to begin taking this money out? If so, what are the deadlines involved?

Q. I will be 58 years old in March. I have 27½  years with the U.S. Postal Service. I am thinking of retiring from USPS within six months. I don’t think I can hold out for the supplement for 2½ more years. I am a carrier and completely burnt out. If I roll my TSP into an IRA, there is a limit I can withdraw per year, correct? If I leave my TSP alone, can I take out $1,000 per month?

Q. I plan to retire with 30 years (plus five days) under my belt on Oct. 31, 2017. I will be 58 years old. Will I get my full annuity and special retirement annuity? Will anything be reduced? Also, if I take out a chunk of TSP (say, ½) and leave the rest to be paid out monthly, will I be penalized?

Q. Just got medically retired from the National Guard and was also retired from Defense Department technician service. I applied for a TSP loan while waiting for pension paperwork to be processed. I was denied because I’m no longer an employee. Is there an exception for retirees under 60?

Q. I plan on retiring Dec. 31, 2017. I will be 56 years old — my minimum retirement age — with 33½ years of service. I’m employed in a covered law enforcement position (DHS-CBP). My current TSP balance is approximately $465,000, and I only contribute to the basic TSP, not the TSP Roth. I would like to take a partial ($100,000) at retirement to pay off my house and also take a monthly set amount. Can I do both? Would I be subject to any early withdrawal penalty (under age 59½) on the partial $100,000 that I would use to pay off…

Q. I recently started a job as a civilian with the federal government. I’m 46 years old and I’m using the TSP retirement system. What fund should I use to maximize my money while adding 5 percent to the G fund. Should I change the allotment to another fund on the list?

Q. I have a TSP plan from when I retired from federal service at age 49 in April 1994. I left my TSP funds in the program. I turned 70 on Dec. 22, 2015. Now that I am older than 70, what are my options? Is it mandatory for me to begin taking this money out? If so, what are the deadlines involved?

Q. My family and I are covered by the federal Blue Cross Blue Shield (BCBS) program through my federal position. My wife, who is older, will be 65, (I am 57) in a couple of months and has just filed for Medicare Part A coverage. I asked the local BCBS representative for our agency when and whether she would need to file for Medicare Part B part. The representative said when I retire, my wife would need to file for Part B coverage. Would having and paying for Part B with the BCBS policy be redundant coverage?

1 7 8 9 10 11 13