Q. Is it possible and/or advisable to roll money I have from established IRAs (both traditional and ROTH) into my TSP account? Basically, paying into TSP over a number of years playing catch-up since I’m over 50. What kind of penalties/taxes would I be looking at?
Browsing: TSP contribution
Q. When a TSP holder dies, does the balance of the TSP account transfer to the next of kin? For example, if I had $500,000 when I died and was receiving monthly payments in retirement, would the remainder of unpaid money in the account go to my widow (or children)?
Q. I am 58 years old (I’ll be 59 in October 2015) and my separation date was on May 30, 2015, I have two outstanding loans of $16,459.50 for residential purposes and $24,783.93 for general purposes and a Financial Hardship In-Service Withdrawal for $24,000.00 with TSP. I asked for separation because after February 10, 2015 I was in Leave Without Pay (LWOP) due to disability, and eventually in March 2015 I was approved for Social Security Disability, which will not start to pay until September 2015. I have a TSP account balance of $44,107.60 which I am planning to do a…
Q. In 2008, I took my TSP balance, plus IRAs balance at that time of $330K, and invested in Lincoln variable annuities (my Trad and Roth IRA’s and my wife’s Trad and Roth IRAs plus non-qualified account). There are no surrender charges if I decide to withdraw. The total balance as of today in annuities is about $415,800. I have currently in TSP $200,000. I want to know whether I can transfer what is in Lincoln annuities to TSP? I have $151,500. invested in various stocks. Can I transfer that to the TSP? I have $51,000. Cash value in a whole life. Can…
Q. I’m retired military with a generous pension now working for the federal government as a civilian at age 52. I’ll probably stay on board for about 10-12 years. My military retirement provides all my benefits, and I would like to invest in TSP for my remaining time in federal service. With outside investments, retirement and Supplemental Security Income, I’m set for retirement and can afford to take chances with TSP. How much should I put toward TSP? What fund(s) would you recommend to someone in my position? What would be your prediction (best and worst) as to what the investment would look…
Q. My wife’s health problems forced her to retire from her government job last year on disability. She began receiving FERS interim payments when she died in February. She provided for a survivor’s annuity, and has a CSRS deposit and redeposit totaling $53,000 from taking out retirement during a break-in service. I have the option to pay this back in order to receive approximately $700 more per month in the survivor annuity payment. Would I be better off paying this back, or investing this amount in the TSP to hopefully gain an equivalent amount in interest? I am also a…
As a Thrift Savings Plan investor, you have access to retirement investment funds that are about as inexpensive as you’ll find anywhere. In 2014, the total cost charged to participant’s accounts ranged from 0.029 percent to 0.049 percent of account assets, depending upon the fund. Even at the high end, 0.049 percent — or a little under 5 cents for every $100 invested — is extremely low. You can invest $1 million in the TSP, in a well-diversified portfolio, for $490 per year or less. I don’t think you can do that anywhere else. So, the TSP’s expenses are the…
Q. This is in regards to my last paycheck and lump-sum payment for the 440 hours of annual leave that I will have by the end of the year: I am a FERS employee and plan to retire on Dec. 31, as it is listed as one of the best days to retire. With this retirement date, I will not receive my final paycheck and lump-sum payment for annual leave until sometime in 2016. Can I have $24,500 ($18,000 plus $6,500) of these final payments placed into my TSP for 2016 contributions since I will not be paid this money until 2016?
Q. I plan to retire on Aug. 31 under FERS. Will I get a 5 percent matching contribution if I make 5 percent of my last paycheck (payable on Sept. 11) to TSP? Can I contribute 5 percent of my lump-sum pay from the unused annual leave? If so, will I get a 5 percent matching contribution?
Q. I will be retiring in August 2015 and am looking for advice on taking my TSP in annuity payments or monthly installments. I understand that if I go with the annuity, the money no longer is in my control, but I will have a guaranteed income for life. Whereas with the monthly payments I still have control to change the monthly payments on a yearly basis if I so desire but run the risk of outliving my funds. I am leaning toward the monthly payments since I am going to play it rather conservatively with my TSP funds in…