Browsing: TSP

Q. I am 56 with 30 years of federal service, planning to retire in 2020. Currently I invest in L2020. I don’t know if it’s too late to attempt higher returns, maybe moving to L2030. What do you advise?

Q. I am planning to separate from the U.S. Postal Service and would prefer a full withdrawal of my TSP balance. I have an outstanding loan that I cannot pay off and would prefer to just pay the taxes and any penalty. Do I have to wait the full 90 days for this loan to go into default, or can I request that an immediate taxable distribution be declared and have the loan closed? When the loan is closed, do I need to pay the taxes/penalties then or would I just declare them when I file my taxes at year…

Q. Besides the $18,500 and $5,000 “catch-up” (if at least age 50) 2018 contribution maximums to the TSP 403(b), can one contribute money beyond these two amounts in the form of after-tax non-matched contributions? At the TSP website it states as follows for the “Annual Addition Limit” of $55,000 per IRC Section 415(c): “An additional limit imposed on the total amount of all contributions made on behalf of an employee in a calendar year. This limit is per employer and includes employee contributions (tax-deferred, after-tax, and tax-exempt), Agency/Service Automatic (1%) Contributions, and Matching Contributions. For 415(c) purposes, working for multiple Federal agencies or…

Q. I am considering taking a position where I would be a re-employed annuitant and covered under a dual comp wavier. As my income looks like it would be over the limit for an IRA, what are the best ways I could continue to save for retirement while I am a reemployed annuitant and then roll those savings into the TSP?

Q. I have all of my funds allocated to the G Fund and would like to diversify my account. I changed my allocation to 100 percent G Fund in June 2016 when markets were dropping, with the intention of rediversifying at some point. With the markets continued rise, I am afraid now that I will lose money if I tried to convert now since I would be buying in at a higher amount. The loss from the conversion may be worse than the gain of increased returns from the other investment options. What are your recommendations?

Q. My spouse is a U.S. Marshal retiring at age 51 with 28 years of service retiring next month. The question he has had a hard time getting answers to is transferring his TSP to an IRA and receiving monthly payments. He would like to transfer his TSP to an IRA to maximize his investment options, but is concerned if he takes immediate withdrawals that he will be forced to pay a penalty in addition to taxes. Is TSP the only option to taking immediate withdrawals before age 59.5? Can immediate withdrawals at 51 be made at firms such as…

Q. I am 56 with 32.5 years of FERS service and am getting ready to go home to the family ranch. I have about $550,000 in the TSP and most in the granny G fund. I want to basically draw the earnings after I hang it up. So, if I want to draw, say, $1,400 a month, can I do that, and am I able to adjust the draw, say, once a year?

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