Q. I have a TSP with the federal government and intend on leaving employment with the VA system and go work at another facility, outside the government. Can I take my TSP with me? Also, I have a TSP loan on which that I am making payments. If I am not working for the federal government, how does it work with paying the loan back? And can I roll my existing TSP money into a 401(a) or 457(b)?
Q. I thought the G Fund was supposed to be stable and even though you would not gain much, you should not lose money. I received my TSP statement and it says I lost $3,000 in 2016. So if I lost that much, I really lost more because of what I put in and the agency matches. That’s a lot of money. Did someone at TSP make an error? Does that sound correct that I could have lost money in it?
Q. I retired last April 2016 as a FERS U.S. Postal Service employee with 32 years at 56 (my minimum retirement age) years old with the special retirement supplement. Am I subject to the Social Security earnings limit of $16,920 in 2017 until age 62? I will not be working through full retirement age (66) for Social Security purposes. Will my Social Security benefit become less than what it is projected to be now since I am not putting money into Social Security? If a start monthly TSP payments, should I elect fewer than or more than 10 years? I realize there is…
Q. My current TSP allocation is 75 percent in L2020 and 25 percent in L2030, with my biweekly payroll contributions split 50-50 between the two. I can’t remember when I opened the L2020, but when I realized 2020 was coming much sooner, I opened up the L2030 so my TSP account would continue to earn money once the L2020 flips to the L Income fund. I’m in my early 50s, so I’m really not sure when I’m going to retire. Should I keep going like this, or move everything to L2030?
Q. I am a 73-year-old Air Force retiree and TSP account participant. When I had to comply with the IRS’ required minimum distributions requirement at 70½ years of age, I also had regular certificate of deposits of a savings nature (pretaxed) in different facilities such as savings and loans. I elected to consolidate all of my savings for ease of record-keeping and accidentally renamed my CDs as IRA accounts when they matured for a greater percentage of return. Last year I learned that I could contribute again into my TSP account even though I was not working, so I rolled over all of…
Q. I am a FERS employee who will reach 70½ in November 2017. I have not separated from federal service and do not intend to do so for a couple of years. Will I have to make catch-up required minimum distributions for the years I worked past 70½. For example, if I retired at age 73, would I be required to consolidate and withdraw three RMDs the year after I retire to make up for the previously deferred RMDs?
Q. I am a senior Foreign Service officer and will have 26½ years of service under my belt at the end of my current tour in summer 2018. In the Foreign Service, we are eligible for voluntary retirement if we are at least 50 years of age (I will be 54 by summer 2018) and have 20 years of service. I am considering retiring in the fall of 2018, so just before the year in which I turn 55. My question concerns the TSP. Assuming I retire in the fall of 2018, will I be able to make monthly withdrawals…
If you are a Thrift Savings Plan participant, do yourself a favor and ignore your personal rate of return. This nearly useless piece of information is provided by the TSP in your quarterly statements. While you might find this number interesting, it tends to draw your attention away from important information. Your personal rate of return, or PROR, is a number that pretends to quantify the performance of your TSP account over the most recent 12 calendar months. Unfortunately, there are a number of problems with this statistic that make it useless at best and dangerous to use at worst.
Q. I will be 70½ in October 2017, and I understand I will be required to take my first required minimum distribution from my non-TSP IRAs in 2017, or wait until April 2018 and take two RMDs (the one for 2017 and the one for 2018). However, since I am still a federal employee and will remain so until I retire on Jan. 5, 2018, I believe I will not have to take a TSP RMD for 2017, so I will only need to take a single RMD from TSP in 2018. Is that correct?