5 Things You Should Know About Withdrawing From Your TSP

Whether you are nearing retirement or still building up your nest egg, it’s important that you take the time to understand some of the complexities that are involved with taking TSP withdrawals. Understanding these complexities will help ensure you are not missing critical elements in the multistep retirement planning process. Read on to learn theContinue reading “5 Things You Should Know About Withdrawing From Your TSP”

The TSP Loan At A Glance

Like many 401(K)s, the Thrift Savings Plan (TSP) allows active participants to borrow from their accounts. However, before you can determine whether taking out a TSP loan is the right choice, you must understand how the TSP loan works. Read on for a quick review of the TSP loan nuts and bolts. How A TSPContinue reading “The TSP Loan At A Glance”

Does Your Agency Match Count Toward Your TSP Contribution Limit?

One of the biggest perks of the Thrift Savings Plan (TSP) is the generous government match. Yet, there is some confusion around whether the agency’s match counts toward the annual employee contribution limit set by the IRS. This confusion probably stems from the fact that there are two limits imposed on qualified defined contribution plans,Continue reading “Does Your Agency Match Count Toward Your TSP Contribution Limit?”

How Is Your TSP Taxed?

The Thrift Savings Plan (TSP) is a qualified retirement plan, which means the plan meets specific IRS requirements and, as such, receives additional tax benefits and protections. The tax benefits you’ll receive and how your withdrawals will be taxed depends on whether you have a traditional or a roth TSP. Traditional vs Roth Taxation TraditionalContinue reading “How Is Your TSP Taxed?”

What Happens To Your FERS Pension When You Kick The Bucket?

Your FERS pension has a survivor benefit. The survivor benefit allows your spouse (or someone else with an insurable interest) to receive a portion of your pension when you pass away in retirement. If you’re married when you retire, you’ll need to make an election. However, deciding which benefit to select can be challenging asContinue reading “What Happens To Your FERS Pension When You Kick The Bucket?”

5 Things You Need To Know About Buying Back Military Time (VIDEO)

In this video, I’ll cover the 5 things you need to know about buying back military time. Use the DFAS Military Buy Back Estimator to get your estimated buy back cost. And if you want to learn more about the FERS pension, read this article.

The FERS Disability Retirement Option

As a Federal employee, you are not offered short-term disability coverage. However, you do have protection against a long-term disability via the FERS Disability Retirement Option. While many people dismiss the need for disability protection, the Social Security Administration states that 25% of people who are 20 years old today will be disabled for 90Continue reading “The FERS Disability Retirement Option”