Q. I receive a CSRS annuity only, I don’t have any other investments, i.e. TSP, IRAs or anything close. I turned 70 1/2 in 2017 and the required minimum distributions requirement is confusing. From what I’ve read the past couple of days, it appears that I don’t require any RMD for my situation. Can you clarify?
Q. With the new tax law regulations making it not as beneficial to donate to charity due to not as many people itemizing their deductions, is it possible to directly move money from the TSP to a charity to avoid the tax and enhance the gift to the charity?
Q. I have a current loan that I am paying on in my TSP account. I am counting the days until I am 59 1/2 so I can make a withdrawal. Am I allowed only one lump sum withdrawal or, if I take a withdrawal while I am working, can I take another withdrawal when I retire in 4+ years? Is there a cap on the amount I can withdraw in my lump sum amount? Can I withdraw when I have a current loan with the intent of paying off the loan?
Q. I am a current federal employee. My agency has advised that there will be 27 pay periods in 2018 and suggested adjusting our TSP to ensure that employees do not miss out on any matching. However, I have looked at the NFC Pay Period calendar and while there are in fact 27 2018 EFT dates, there are only 26 official pay dates in 2018. The first check to be received in the calendar year is PP25 from 2017 and the official pay date is Mon., January 4, 2018. The last check to be received in the calendar year is…
Q. I just opened a new Roth IRA because I thought I could rollover my TSP Roth funds to it. Now I am being told I cannot. I am retiring at the end of March and was hoping to have this resolved and only keep the traditional money in the TSP. Is this possible to do and, if so, how (forms?), etc?
Q. I know with a traditional IRA if I don’t take my required minimum distributions by 12/31 of the calendar year I turn 70 1/2, I am subject to a steep penalty. However, in reviewing the TSP information, it seems like I can wait until April 1 of the following year, without penalty. Do I understand that right?
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?