Q. I have over 43 years of government service. I have bought back my military time, and I am considering retirement. I’m just not sure that I can afford it. Any advice?
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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…
Q. I am the account holder of my late husband’s TSP account. I’m receiving required minimum distributions due to age. My adult daughter is disabled. What is the best tax-efficient way to pass the TSP funds to her at my death? I would like for her to receive a yearly amount of $5,000 to $6,000 since that is my RMD now.
Q. I understand that TSP is waiving the 10 percent penalty for LEOs who retire and are at least 50. This means that they can take an income or access their money from TSP without penalty. What if a LEO rolled/transferred their TSP to their own IRA after separation via a TSP-70 form and then began to access the funds from the new account? Would they be covered under this new rule since the funds originally came from TSP? Or would they be subject to regular IRA rules?
Q. Just saw [American Federation of Government Employees] announce it passes for retirees after 12/31/15. My husband retires 9/30/2015, so we will have a penalty if we withdraw after this December 2015? It should be for all [law enforcement officers] retired already under 55.
Q. I’m a FERS employee and 60-years-old. If I retire with annuity & TSP, and wait a few years before taking Social Security, the amount will be based on my salary at retirement, correct? However, every year I wait, 2 percent will be added to that salary, correct?
Q. I am retired from the post office and have BC/BS through OPM. I also have medical care through the VA. When I turn 65 am I required to sign up for Medicare part B? If so, do I cancel my BC/BS?
Q. I am resigning from federal service to take care of my husband. I plan to apply for a FERS deferred retirement in two years when I turn 62. I will have six years of federal service. What happens to my 250 hours of sick leave when I resign?
Q. What’s the difference between account distribution and account allocation?