Q. I have inherited my spouse’s traditional IRAs. My spouse died in May 2015 and was not subject to RMDs. Can this type of inherited IRA be transferred to my TSP account? Also, I have already taken my RMDs from my IRAs and TSP account for 2015. Do I now have to take an RMD for 2015 from the inherited IRAs, whether or not they are transferred to my TSP account?
Q. I turned 70 ½ in April. I want to withdraw the minimum required before the end of this year to avoid getting taxed more next year. How do I request this? It seems they will send it at year’s end, but I would prefer getting it sooner.
Q. I am leaving my monies in the TSP because of all the benefits the program offers, but I was wondering about after I turn 70 1/2 and Required Minimum Distribution (RMD) kicks in. Due to my financial condition I don’t need to start taking funds from my TSP at this time; I was going to hold out a couple more years. One of the features of the TSP program I like is the ability to vary, from year to year, what I would like to receive monthly. Can this still occur when the RMD kicks in? I presume it can but I can’t…
Q. I plan to retire at age 69 and a half, and elect the monthly withdrawal option for the TSP. One year later, when I am 70 and a half, RMDs will kick in. Will my withdrawal option count as the RMD, or will I have to take the RMD on top of my monthly elected amount?
Q. My wife and I are both federal employees under FERS, nearing seventy and about to retire. We have a question about how to make the required minimum distributions (RMDs). We each have a TSP account and each also have a rollover IRA from previous employment. We file taxes jointly. Must we take four separate RMDs from each of the four pre-tax accounts? Or, can we total up the combined amount of the four RMDs, and make one large withdrawal from one of the four accounts?
Q. I started making Roth TSP contributions in late 2012. I will be 70 years old in May 2017. I would like to roll over my Roth TSP into a Roth IRA before having to make any Required Minimum Distributions (RMD) from my TSP account. I think I will meet the 5-year rule for the Roth TSP on January 1, 2017. The year 2017 is also the year I turn 70 1/2, which, means, I think, that I must take a RMD of TSP funds in 2017. When should I do the rollover of the Roth TSP funds into a Roth IRA…
Q. I am a FERS retiree and following your advice, I have not touched my TSP. This year I must start Required Minimum Distributions and am thinking of having TSP buy an annuity. The news says “the Fed” may raise rates soon. Will that raise the TSP Annuity Interest Rate?
Q. I am aware that I do NOT have to take a RMD from my TSP if I am still working full time as a Fed beyond age 70. My Fed colleague and I would like to “Job Share”, with each of us working twenty hours per week after age 70. Will the IRS let me take only half what my RMD would have been had I retired full time? I don’t need the distribution money and prefer to leave as much as possible in the TSP.
Q. TSP declares an unpaid loan at retirement as a taxable distribution. Participant is over 70 1/2. Does that taxable distribution satisfy the minimum distribution in the first year of retirement? Any research information is appreciated.
Q. I have funds in my TSP account, turn 70 ½ in 2015, and have recently been furloughed from federal service but have not resigned or been separated. I am eligible to return in 2015. I understand that if I return to federal service in 2015 without separating, I can resume TSP contributions and do not need to take RMD until I separate. However, I understand that if I am separated from federal service in 2015 and do not choose either an annuity or a monthly distribution plan, I must accept full distribution. In that case, can I call the…