• Franki

    I retired from USPS 5/30/2011 with the VERA and I am FERS. I contributed the max from my pay each year(16,500+ 5,500 catch up) each year to TSP, When I decided to retire, it was April, I had already allocated the “spread ” to contribute to the TSP. I tried to increase the amount I put in at the end, to put in the maximum,, but the change did not go thru. I had only been able to put in 11,465. + 2332. total. It is only October now and not being an employee anymore I do not have the access to liteblue to make contributions.
    My question is: When my Incentive check comes in November, will I be able to put that money into my TSP? does anyone know? If so how do I do this?
    Thank you , any advice is helpful.


  • Gary

    A representative from the USPS retirement assistance told me that my TSP account will only pay 50% of its value to my beneficiary after age 591/2 and I should get out of TSP and roll it over into an annuity. Is this true?

    • naseth

      Yes. The account won’t mature fully until you reach 70 and 1/2. The average life expectancy was 63 in 2001. That means only half of the money you put in there will go to your heirs.

      • Sam

        If you choose to buy an annuity with your account, little if anything will be paid to your beneficiary. However, if you choose to withdrawal monthly payments and management your account on your own during retirement, the remaining balance will be paid to your beneficiaries. Not 50%, the whole balance. 100%.

  • Mcdonald Priscilla

    I have a two other company retirement plans, one from the state and one from a contracted state agency. I read it is best to roll these into one plan so you are not paying administrative fees on three plans so how do I go about combining the amounts from the other plans to Thrift Savings plan and I will be 59 and a half March 2013. Should I do this now or wait till March or does it matter.

  • Steve

    Not true! You are required to begin withdrawals at age 70 1/2. You can begin withdrawals at an earlier age. Do YOUR homework.

  • Bill

    My broker advises me that the value of all bond funds will decline when “tapering” begins. Is this true even for the TSP G fund?

  • Chloe

    What happens to my TSP account when I retire? Must I find a financial firm to transfer it to in order to set up and administer an annuity, or whatever?

    • Janet

      Talk to your benefit office. When I left the federal workforce for several years, my TSP funds stayed in my name, and I could still move money from one fund to another, although I couldn’t add new money. I did not need to use any financial firm to transfer it or manage it, although I think it was possible to transfer the money into another retirement account (and use a financial firm if I wanted to). I saw no reason to mess with this money, though, and my TSP money continued to do whatever the funds the money was in did while I was employed elsewhere-and I paid no taxes since I did not take the money out.

  • Brick By Brick Investing

    I think this is a great retirement program for federal employees but gives no incentive to service members to contribute.

    • Dave (not really)

      Actually, it does. People can’t bank on being able to retire with 50% of their base pay, especially with a liberal political influence. At the same time, the military is radically reducing its force numbers right now, so it’s even more important to be saving. Now, if you mean “no incentive” over and above a mutual fund with USAA, for example, they’re pretty different things. I happen to have ~$160K in TSP, $55K+ in mutual finds with USAA and have been in for 12 years (came in with nothing to my name), so it’s paid off.
      Additionally, looking at that ~$160K, I’ve only CONTRIBUTED $87K to the funds, so I’d say that’s a pretty good return on my money.

  • Mike

    I wish they had this for the military when I was in!

  • Mike

    That’s not true. You can take it in lump sum if you want at the time of retirement. Or, you can take part of it in a large amount and then take a annuity each month based on what’s left. You can elect not to withdraw any at retirement but at age 70 you “must” do something…take it lump sum…take an annuity….take it any way you want but you must DO SOMETHING starting at age 70.

  • Andy

    Notice when he said Social Security looks bleak, funny thats always the first thing to go but notice never Welfare one is worked for and the other is expected. More free money for the SXXT Bags of this country

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