Browsing: TSP

Q. My spouse and I are both retired CSRS employees with TSP accounts. As a general rule, I know that if one of us dies the survivor can have the deceased member’s TSP balance transferred to their TSP account. We are each the primary beneficiary of the other’s account. How does this work once we are taking RMDs? Say one of us dies in 2020. Does the TSP take the deceased member’s account balance, deduct any RMDs still due to be paid in 2020, transfer the remaining balance to the spouse’s account and send a check for the remaining RMDs…

Q. I separated from the U.S. Air Force on 12/31/2015 at the age of 53. I had a Uniformed Services TSP during the duration I was in the Air Force. On 01/01/2016 I took a job at the same overseas base and received a civilian TSP at that time. I worked that job until 12/31/2017 and left federal employee for full retirement at the age of 55. I am trying to find out if both the Uniformed Services TSP and the civilian TSP would be exempt from the 10 percent early withdrawal penalty since I stayed in federal service until…

Q. I only did four years in the Marines and got out back in ’08. I totally forgot I had a TSP until I got an annual update for it in the mail. All my money is in the G Fund and only has a little over $8,000 in it. Should I leave it alone? Roll it into an IRA? Try and work with it and spread the money in there to the other funds? If so, which ones? I’m 32 years old, and still have plenty of years of being a wage slave ahead of me. The only thing…

Q. I’m 55 and a civilian employee. I’m retired Air Force, with a bit in my military TSP and a growing amount in my civilian TSP. I’ve just started converting all of my future TSP contributions to go to Roth, for one main reason: I plan to retire at age 62, and we’re going to take a lump-sum distribution of my TSP to purchase a house (won’t be eligible for a mortgage). The TSP balance at the time will be about $400,000 or so (hopefully closer to $500,000). I estimate that roughly 40-50 percent of it will be Traditional, and the rest Roth.…

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