Browsing: TSP

Q. I was born Jan. 21, 1980, so I’m currently 37. I turn 57 (my minimum retirement age) in 2037. I have 10 years of AD service, from June 1998-May 2008. I joined the civil service a week after leaving the military and now have roughly nine years of service. I have bought back all 10 years of military service but am still in the Air Guard. The Guard position is not linked to my FERS position. If I retire at age 57, do I suffer any penalties or taxes for pulling before age 59½? Or do I need to follow…

Q. I am a FERS employee with the U.S. Postal Service. I plan on leaving this summer when I’m 58. I have read that I can be less than 59½ years old to withdraw from TSP and not be penalized for early withdrawal, as long as I am completely separated from USPS. Is this true? Also, along with my pension, I plan on with drawing about $1,200 per month from my TSP. Will I be taxed less by taking out monthly amounts than if I took out the entire amount?

Q. My husband is retiring in April 2017. He is on FERS and has TSP and pension. Does he have to leave his money with the government to keep health insurance?

Q. I retired in 2011 under the Voluntary Early Retirement Authority (VERA). I had 25 years of service and was 53 years old. I worked in the U.S. Postal Service’s sales and business development department. I was in an acting level 21 position at $83,000 a year. My normal level was 19 with $72,000 a year. It has been 5½ years. I am 59 and have been getting the supplement with my pension for 3 years. If I went back to my level 19 position at $72,000, what happens to my TSP?

Q. I am a veteran and a federal employee at a VA Hospital. I am under FERS. I just turned 56 on July 30, 2016, and I have a total of 27 years-plus of federal service. Last August I filed my disability retirement because of my disabilities, and the papers are still being processed. Hopefully they will finalize it by next month or this month. If I withdraw all my TSP (lump sum), will there be a penalty?

Q. I am in the middle of a divorce after 30 years, and my husband’s attorney has requested my TSP statement and a document verifying the benefit and a current plan summary and description of my FERS account. Is my husband entitled to both of my pension benefits and my FERS account?

Q. I am a current employee with U.S. Customs and Border Protection (under the purview of the Department of Homeland Security) with 13 years of service. I am considering transitioning to a part-time (20 hours) position with the Department of Veterans Affairs. Will I still be able to contribute to TSP? Can I contribute the maximum? Are there matching funds when you work part time? How will my part-time service reduce my retirement calculation? I am trying to gain more work-life balance and want to understand the financial ramifications before I make any decisions.

Q. How do I file a complaint against TSP for not releasing my funds to me? I joined in August, then submitted my cancellation for return of funds on Nov. 22, 2016, to meet the Nov. 23 deadline. Then TSP mailed a letter saying my form failed to include my TSP account number, so it was not processed. I re-faxed it. TSP now says that because they did not receive the revised form until Dec. 16, it will not return my funds. Clearly, TSP had notice of my withdraw before Nov. 23.

Q. I am currently investing in the TSP L Fund 2020 but still have money I previously invested sitting in C, F and G funds. Should I be transferring the individual funds into my current L Fund 2020 where I am now allocating 100 percent of my funds?

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