A. I was looking for some information regarding VERA and what effects it will have on benefits including TSP. I heard that you cannot withdrawal from TSP until age 55 without penalty. I was also told when I called the TSP helpline that even with a VERA, if you leave before age 55, you cannot withdrawal from TSP until age 59½ to avoid penalty. Does anyone know if what I was told is correct? I find it hard to figure things out with the TSP publications available. And you never know if the person you spoke with really knows. Can you…
Browsing: TSP
A. I am a FERS employee at the Department of Defense (from my TSP, 25 percent is in the general fund and 75 percent goes to a Roth. I am told that when I leave service, I must terminate my TSP. This is distressing. Any advice?
Q. When I retire, can I transfer a lump-sum potion of my TSP to an IRA and still receive monthly payments for the rest?
Q. I’ve been reading that the TSP is terrific for accumulating funds for retirement, but not so good when it comes time for withdrawal options when the time comes to tap my account. Do you agree with this? And would I be better off rolling over a portion of my TSP into a private IRA-type account so that I can more easily manage my account and withdrawals, for example, where the monthly distributions come from (because of the TSP proportional distribution rule, for example)?
Q. I have accumulated a tidy sum in my TSP investment account. It is diversified between stocks and the G Fund. With the volatile market, should I take money from the stock fund and move it all to the secured G Fund? I would still contribute while working. I plan to retire in two and a half years at age 66½ and worry about having this money secured for retirement.
Q. I am currently a retired veteran receiving both retirement and disability concurrently. I just recently became a federal employee. When I finish 20 years as a federal employee, will I be able to collect FERS, retirement, disability and my TSP?
Q. If I retire today, Social Security is S1,800 per month ($1,000 from the U.S. Postal Service and monies from my thrift savings account). Will this money from USPS and TSP affect my Social Security amount of $1,800? If so, how much?
Q. OPM approved my disability retirement case in 2015 (after 31 years of service with the federal government), and I “officially” retired on disability at age 54 of that year. I was denied Social Security disability benefits. I am now receiving the 40 percent disability retirement annuity and am having a difficult time making financial ends meet each month. Therefore, I am looking at the possibility of withdrawing fixed monthly payments from my TSP account to provide additional income until I turn 62, when my disability retirement annuity is converted to a regular retirement annuity. I currently have $323,000 in…
Q. I’m a current CSRS employee considering retirement after 34 years of service. With a $300,000 balance in my TSP account. I’m currently risk adverse and for the past two years have been in the L Income Fund. I have read many of the questions about investing and found a familiar reply below: “I suggest that you invest your TSP balance in the L Fund that most closely corresponds to your life expectancy”. I am 61 years of age and hopefully will be alive until my early 80s. Isn’t the L2030 fund too risky for someone of my age? What…
Q. I plan to retire at 51 years old. I am federal law enforcement and eligible to retire at age 50 (I have 22½ years as a law enforcement officer and 26 total years). I need to access my TSP immediately to pay emergency expenses. If I request a hardship withdrawal prior to my retirement date, will I be subject to the 10 percent early withdrawal penalty?