Q. Are a spouse’s Social Security retirement benefits subject to the windfall elimination provision after the death of her husband who was a CSRS annuitant? She is eligible to receive the maximum CSRS benefit of 55 percent of her husband’s monthly annuitant benefit.
Q. I am currently a CSRS employee with 37 years of service. I plan on retiring in two years and would like to make a withdrawal from my TSP to pay off the remaining balance on my child’s college tuition and possibly pay off a few other debts to be able to retire without debt. Is there any advantage to, or advice you can give on making a lump sum withdrawal and pay off the debts immediately versus a monthly withdrawal covering the debt amounts until the debts are paid off?
Q. When I left the government for six years I pulled out my retirement under CSRS. I since have returned back to the government for the last 17 years. Since I was taxed on it when I pulled it out, can I report it on my taxes as paying back into my retirement?
Q. I retired as CSRS in 2015 and have a TSP account. I’ve recently decided to hire a financial planner and he recommends to “link” my accounts (savings, IRA, TSP) to a financial management tool that consolidates & updates your investments in order to get a total view of your accounts in one location for analysis. This necessitates providing my user IDs and passwords via secure encryption. The tool does not “store” the user ID or passwords. These tools seem rather common in the financial planning profession. I still have hesitation in providing my info via a tool. Would you…
Q. I am CSRS Offset. I withdrew my retirement funds years ago, and need to make a redeposit. I want to move money from my individual 401(k) to the Office of Personnel Management to make the redeposit. Will OPM report it to the IRS as a rollover, or will it be taxed as if I never re-deposited it?
Q. I owe for service credit when I withdrew my CSRS retirement in 2000. I did return to the government in 2003 and I’m now CSRS Offset. With interest I owe about $78,000. I have recently started making payment so I can receive the credit. I’m 56 and I hope to work until I’m 60. Since the interest continues to accumulate and I don’t have funds to make very large payments, I’m wondering if it would be wise to take out a TSP loan to pay down some of what I owe? If I do retire at 60 would any…
Q. I am planning to retire at the end of the year. Can I still transfer the money in my Voluntary Contribution Plan (apart from the interest) into an existing Roth IRA? I heard that Congress was considering disallowing that move.
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 have recently retired from the U.S. Postal Service under CSRS. I had been contributing the maximum amount toward my TSP. When I left, I received my balance of annual leave in a lump payment. I am rolling my TSP over to a Fidelity account to have more choices with regard to withdrawal options. Since the money from annual leave pay is treated as earnings, can I place some of it in the IRA account?