Refinancing and VCP


Q. I am a 59-year-old federal employee with 34 years of service under CSRS. I am retiring soon and heard about the Voluntary Contributions Program. I don’t have a wad of cash except accessing some of the equity in my home (I have about $200,000 of equity, and I could pull up to $100,000 out).  Is it worth refinancing (at a low 3.5 percent) to access the money and use the VCP to convert it into a Roth IRA?

A. Probably not, unless you need the cash for expenses.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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