Browsing: Uncategorized

Q. I am planning to retire sometime in 2016 with more than 40 years of service. I have been reading about the voluntary contribution program and have opened a VCP account with OPM. I am currently waiting to get a determination of how much I can contribute to the program. My plan is to contribute to the program and then roll over the contributions to a Roth IRA. Can I immediately roll over the entire amount deposited into the VCP to a Roth IRA? I am 60 years old, so the 59 ½ year age-withdrawal restriction would not apply, but would…

Q. I am 68 years old and do not want to touch my TSP account until I have to at 70½ years old. What percentage will I be required to take when that occurs? I currently have my money in the L Income Fund. Which L Fund do you recommend for me at this point and time?

Q. I am retiring at 62 with 41 years of federal service. I plan on leaving my TSP monies in my TSP account and taking a monthly withdraw. I’ve been told that if I pass away, my remaining TSP balance will be lost and not given to my wife who is the first beneficiary. Is that true?

Q. I have a suspicion: A speaker for MyFEDBenefits at MyFedBenefitsHelp.com was at my union meeting for the National Association of Letter Carriers. This speaker talked all about helping us with our benefits. I asked him why he didn’t mention how he gets paid. He said he was going to tell us like he always does but when he left he never did. What got me suspicious was when he said we could roll our TSP into one of his approved IRAs. This suggestion required me to speak up and tell everyone that the TSP has the lowest fees around and to read the Mike…

Q. I recently heard from a FERS Article IV judge in the Judicial Retirement System that they do not get matching in the TSP. I know this is true for members of the uniformed services, but I can’t find anything on someone who will retire under the JRS. I’ve searched the TSP website and OPM’s website but keeping hitting dead ends. Do you know of a good source for this information?

Q. I will have Medicare next year in May. I am a working CSR retiree and am currently covered by my employer’s plan (with more than 65 employees), and I still maintain my FEHB through NALC. The employer’s plan has a high deductible ($2,000) this year. Can I drop my employer’s group health plan, take Medicare Part A and B, and use my FEHB as the supplement? Otherwise, I would have 3 insurances if I have to stay on my employer’s insurance. I just don’t understand how to balance all this and it seems as though I will be overinsured…

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