Q. I work for the Department of Interior and I have accepted a VERA Early Out. I would like to take my whole TSP account and rollover to an IRA. Some say there is not a 10 percent penalty for simply rolling over to an IRA and some say there will be one. I am age 50. I do understand if I make withdrawals from the IRA, they are subject to the 10 percent penalty.
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Q. I am retired from the U.S. Postal Service. I have a Roth, TSP, some old brokerage accounts and too much cash. I’ve been trying to find a fee-only advisor, but the offered services are far more that I want to start out with; I only want advice on re-positioning my investments for today. Do you have any suggestions?
Q. My wife and I contribute 18 percent to TSP (Roth) but also have five outside funds (1 mutual fund, 2 Roth IRA’s, 2 traditional IRA’s) that we no longer contribute to. I am retiring soon; however, my wife will work another three years. Would you recommend rolling them into our TSP (L2030)?
Q. I plan on working in federal service for roughly 22 more years. I contribute enough to the TSP to max out the matching contribution. I read somewhere that it would be a good idea to direct the rest of my savings to an outside Roth IRA with a company like Vanguard so that I have more investment choices for my after-tax dollars. Good idea?
Q. Does contributing to the Roth TSP affect my Roth IRA annual contribution limits? Can I submit up to the limits of both in the same year ($18,500/year Roth TSP and $5,500/year Roth IRA) if I have a Roth IRA account in addition to my Thrift Savings Plan account?
Q. I want to deposit 10 percent aggregate base pay into the CSRS Voluntary Contribution Program (VCP). How do I get my total accumulated pay over my entire CSRS work history? I worked at three Veterans Affairs centers. What forms are needed to roll the contributions into a Roth IRA? I have a traditional TSP, also.
Q. I have a TSP (Roth & Traditional) via uniformed service; I also have employer retirement accounts with TIAA (both Roth & Traditional), which is a 403(b). [I believe the scenario below would be the same for those with a 401(k).] To try to tease out and maintain the Roth funds for later, at separation/retirement from the reserves I am planning to take the one time bulk distribution (95-99 percent) of my TSP and have it be a direct rollover to my TIAA accounts. Once the TSP funds are in my applicable 403(b) Roth and 403(b) Traditional accounts at TIAA, I…
Q. I plan on retiring from 33 years of federal service with the Department of Defense. I have $1 million in my TSP and want to convert some of it each year to a Roth account. After retiring, I expect my taxable income to be about $100,000 per year. After retiring, if I transfer $50,000 per year from my TSP to a Roth account, what will my tax rate be? Note: I’m assuming the federal tax rate between $77,000 and $165,000 is 22 percent, for over $600,000 is 37%. Would I be taxed 22 percent on the $50,000, since $100,000 +…