Browsing: TSP

TSP re-deposit

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Q. While still employed in the federal government, can I re-deposit the money I have withdrawn to an outside IRA back into the TSP prior to full retirement? A. You may transfer an eligible (contains no after-tax money) IRA balance into your TSP account at any time.

Monthly payouts

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Q. Are FERS retirement checks, TSP distribution checks and Social Security checks a monthly or bi-weekly distribution? Is there an option to make requests for either method? A. All are monthly.

VCP investment

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Q. I’m a CSRS employee with 34 years of service. I’m 53 years old and plan to work until I’m 58 years old. I have $15,000 that I want to invest. Would you recommend putting it into the Voluntary Contributions Program? I have a balance in TSP also.

Finding an advisor

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Q. My husband and I are 51. We will retire in about 10 years. How do we find the right financial advisor that will help us understand what we need for retirement, and  what we need to do if we won’t have enough to meet our needs?

Girlfriend on annuity

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Q. I am 63 and will be retiring under FERS probably within the next two years. Am I allowed to have my long-term girlfriend on my TSP annuity? A. Maybe: “If you chose a TSP annuity that provides for a joint annuitant other than your spouse, the joint annuitant must be either a former spouse or someone with an insurable interest in you. This means that the person is financially dependent on you and could reasonably expect to derive financial benefit from your continued life. Blood relatives or adopted relatives (but not relatives by marriage) who are closer than first…

TSP withdrawal

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Q. I am under the CSRS retirement system. I have 32 years of federal service. I am 56 and plan on retiring at 60. I contribute to the TSP, $17,500 per year and an additional $2,600 catch-up to the TSP per year. I am a GS-13/7. My high-3 would most likely be at this pay grade. How can I calculate how much my monthly annuity would be upon retirement so my financial adviser will have a better understanding of my situation upon retirement? I know about the ballpark estimates, but I would like something a bit more concrete. When do…

Annuity eligibility

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Q. I was just hired by the VA (NTE only lasting 2 months, Excepted) at age 58. How long must I work before I am eligible for a monthly pension? How long must I work before I am eligible to keep retirement thrift plan? How long must I stay before I am eligible for retirement medical benefits?  I am assuming that I will find a permanent job but does this NTE time count toward something?

TSP transfer

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Q. My husband and I are looking at investing into a new hotel being built. I have worked in the hotel industry for 15 years, and this is a great opportunity for us. He has been active duty in the Air Force since 2011 and has roughly $20,000 in his TSP. Can he transfer his TSP balance to a Self Direct IRA to invest the money into the hotel deal? Are there penalties involved? He would continue his normal contributions to the TSP account as we move forward, but we are interested in using the $20,000 to invest in the…

Stock dividends

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Q. The stock funds (TSP) offered, Small Cap/Large Cap, invest in stocks. What happens to the dividends? A. They are retained inside the funds and are reflected in the share prices.

TSP withdrawal

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Q. I will be 70 in February 2016 and plan to retire and take all my money out of my TSP. I am a single divorced woman and do have monthly security for which I have been paying taxes. Can I take all my money out, as I have calculated that the $1,000 I am from Social Security is not enough for my expenses as I have calculated it. A. Yes, you may take all of your money out. Use form TSP-70.

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