Browsing: TSP contribution

Q. I was recently hired as a GS employee and have a good amount of prior military time. I am in the process of saving up for the military buyback. I have money in a an IRA which I am no longer putting funds, due in part to the fact I am investing heavily in my TSP. Can I use the money in my IRA towards my military buyback?

Q. I was forced to liquidate almost all of my savings, stocks, etc., five years ago to assist a family member with some much-needed medical financial assistance. I am 54 years old, and plan on working for an additional 14 years. I’m currently putting $350/pay period into TSP with contribution allocations in L2030 (10%), C Fund (45%) and S Fund (45%). Balances are $13,662, $2,730 and $10,986, respectively. Every opportunity I get, I increase my contribution. Here’s my question: Based on the short amount of time I have left to retire (14 years), is my allocation percentage into the three funds…

Q. I was told that I can still contribute to TSP after I retire from the military at 20 years. However, when trying to clarify that information I stumbled upon your blog and saw this Q&A:   Q: I enlisted in the Marine Corps and signed up for the Thrift Savings Plan in 2004. I was severely injured in Iraq in 2005 and was retired from active service in 2006. I am now receiving Combat Related Special Compensation, Social Security and my compensation from the Veterans Administration. Can I continue to add to my TSP account as a military retiree?…

Q. I’ve settled a case against the government and would like to apply some of the proceeds into my TSP account. I’m over 50. Other than making a “make up” contribution, can I use 415c to make an additional annual contribution that is the difference between $54,000 less my elective deferral, matching contributions, etc?

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