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?
Browsing: Social Security
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 am a CSRS annuitant, retired four years ago. My wife will turn 62 this year and we’re debating if she should file at 62. Should she die before me, am I eligible to receive any of her Social Security benefits?
Q. I have been hearing rumors that the special retirement supplement can be extended beyond 62 as long as I do not take Social Security. Is this true? If so, who do we contact and is there a form we need to fill out?
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?
Q. I plan to retire in September 2018 at the age of 58. Does it make sense to withdraw the max amount from TSP annually and remain in the 12 percent tax bracket or just take the minimum I need and pay more on taxes when I turn 70 and start drawing Social Security and required minimum distribution? If I choose option 1, I would probably invest the extra somewhere.
Q. Is it true that because I’m a CSRS retiree, and don’t have enough quarters in Social Security, I would not be able to collect anything on my husband’s Social Security should I survive him?
Q. As a retired CSRS (offset), I receive my pension along with a separate Social Security benefit that was reduced by WEP. My spouse receives Social Security through their own work. Am I eligible for any portion of my spouse’s Social Security?
Q. I will receive an apportionment from my ex-husband’s U.S. Postal Service CSRS pension in the amount of 50 percent. Since this is his pension, but I will be receiving the apportionment, will Social Security consider my share “pension” for me and subject me to the windfall elimination provision even though the pension was not from my employment but from my husband’s employment/pension?
Q. I am planning to retire in 2021 after 27 years of federal service. If I decide to collect Social Security at the age of 63 1/2 years. is the federal retirement considered earned income? Also, I receive a check from my ex-husband’s military retirement. Is that also considered earned income that could push me over the $16,000 limit per year?