Q. I’m 52 years old, with 33 years of service. If I’m offered VERA with a $25,000 bonus, can I immediately apply for the Social Security Supplement at the age of 52? Can I start the annuity from my Thrift Savings Plan at the age of 52? I want to make sure I have sufficient funds to live off of, if I’m not immediately employed by someone.
Browsing: Social Security
Q. I am permanently, totally disabled from my doctor after neck surgery. I am FERS, starting in 1990. I retired from the U.S. Postal Service on disability retirement on 1-1-2017. I am thinking of withdrawing $1,000 a month from my TSP on a full payout. Will this affect my Social Security I am receiving, or affect my pension? Do TSP withdrawals affect disability retirement pay in any way?
Q. I am 59 and retired in 2015 at 57 from a federal law enforcement position. I started a consulting LLC in Texas in 2018 and do not take regular draws from the company account. I am currently receiving Social Security supplement along with my pension. Do the gross earnings of my LLC count toward the earnings test even when I do not take a draw equal to or greater than the earnings limit set for the current year 2018? Or, if I take a draw and maintain that amount under the limit, would any remaining funds in the LLC…
Q. I have 21 years of service in a covered law enforcement position. I have been offered a job with a large government contractor. I am 53 years old. I also have purchased back eight years of military service. By reading thru your FAQs I see I can get the Social Security Supplement until I reach the age of 57. When I retire is it better to roll my TSP over into the new job’s 401(k), or leave it alone and simply start a new one with my new employer? A. It’s hard to find a 401(k) plan that compares favorably…
Q. I have been found disabled by the Social Security Administration (FERS claim is pending). Can I make a withdrawal from my TSP account without the 10 percent penalty? What documentation is needed? I am 52 with 26 years of service.
Q. I am under the FERS system, age 57 with 30 years of service. I am eligible to retire but will probably work another two years and retire at 59. I know that you recommend leaving TSP untapped for as long as possible. If I do this, I would need to take Social Security at 62 to make ends meet. Is this a good strategy? Many financial planners recommend waiting as long as possible to draw Social Security, so I am not sure which strategy makes the most sense.
Q. I am a federal firefighter facing a mandatory retirement next year at the age of 57. My question is, will the money I withdraw monthly from the TSP be counted toward the Social Security earnings test?
Q. I am employed by the federal government under the CSRS system, with 44 years of service. My ex-husband recently died in December 2017 and I am getting his Social Security benefits of $1,365 per month. If I retired at the end of December 2018 would I still continue to get his SSI benefits at that same amount or would they be drastically cut, or I may not even get any? My ex-husband never worked for the federal government; he was only a veteran. I only have 24 credits worked toward my SSI benefits.
Q. I plan to retire at 63 or 64, but because I came into the government late (12 years ago) my pension will not be that big. Would it be better to drawn from my TSP and claim Social Security at my full retirement age (66 and 4 months) or claim it at 64 and only withdraw from TSP as needed?