Browsing: TSP

Q. I plan to retire from federal service in about three years and start my TSP withdrawals then. My wife will continue working at that point; she has a 401(k)-like plan at her job that she contributes money to now. She also gets a fixed contribution from her employer, i.e., it does not depend on her contribution. Once I retire, should she continue contributing to her 401(k) or not? That is, she could keep contributing $X a year and I would end up taking $X more out of TSP.  Or, she could stop contributing and I would take $X less out…

Q. I’ve settled a case against the government and would like to apply some of the proceeds into my TSP account. I’m over 50. Other than making a “make up” contribution, can I use 415c to make an additional annual contribution that is the difference between $54,000 less my elective deferral, matching contributions, etc?

Q. I am a single/divorced female, 58 years old, and I have 38 years of federal civilian service. I retired December 30, 2017, with a small outstanding TSP loan balance – less than $900. I have about $55,000 in my TSP. I had previously left the federal service (eight years ago) and used my TSP balance earlier in my career. When I reentered the federal civil service I reinvested in TSP and currently have a balance amount of $55,000. I’m considering requesting the full amount of my balance. Will I be penalized if I do not pay this small loan back…

Q. I just retired from the U.S. Postal Service as a FERS employee at 56 years of age. I have two outstanding loans against the TSP. My question is that if I elect not to pay them off within the 90 days and pay the tax on it for 2018, would that count as earned income against the $17,400 I am allowed to earn before being penalized on my Social Security supplement bridge? I am guessing that I would only be penalized 10 percent for early withdrawal in which case it still might be best for me to pay it off as…

Q. I’m a 65-year-old retiree under CSRS, have about $175,000 in TSP and do not plan on withdrawing from TSP until age 70. As a conservative investor, I currently have money in the G, C and I Funds hoping to have some money in a safer fund and some in which I can see a better return. With the current market downturn and the future predictions, I’m unsure where I should be investing. I don’t want to put everything in the G Fund, but I don’t want to put too much of my money at too high a risk. Any…

Q. I turned 70 ½ years old in December 2017. I retired Jan 31, 2018. I am just in the process of applying to withdraw my first Required Minimum Distribution from my Thrift Savings Plan, and decide in a few months what to do with the rest of the money. How can I show that is my intention, if the form I am given to fill up is the TSP-70 (Request for Full Withdrawal)? Also, I have already done a one-time withdrawal in 2013 from my TSP account. Now that I am retired, after I am issued the first RMD,…

Q. The continued drop of the stock market (and therefore the C, S and I Funds) is scaring me and I want to preserve the gains I had in 2017. I just reallocated my TSP balance to C, S and I Funds on January 29, moving from an L Fund allocation. I change my allocation every year in January, but in hindsight it was a bad decision this time. If I have, say, $200,000 today, will an interfund transfer to the G Fund show my TSP balance to be $200,000 tomorrow? I want to stop my TSP balance from dropping…

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