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TSP Withdrawal Deadlines to Avoid

TSP Withdrawal Deadlines to Avoid You may know about the age threshold (70½ ) that the IRS imposes as a requirement to begin receiving mandatory Required Minimum Distributions (RMDs) which can potentially impact any other TSP withdrawal options you have in place. The RMD you must take is equivalent to a certain portion of your TSP Account Balance each…

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How SBST Helps Promote TSP Participation

How SBST Helps Promote TSP Participation The annual report of the federal government’s Social & Behavioral Sciences Team (SBST) shows how they have been helping federal agencies prod people into the right direction. One good example is about the DOD and SBST’s email campaign to increase participation in the Thrift Savings Plan. The email campaign sent…

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Age Thresholds For Making A TSP Withdrawal

Age Thresholds For Making A TSP Withdrawal You may be aware that making a TSP withdrawal before age 59½ can result in getting hit with a 10% early withdrawal penalty in addition to the income taxes that may be applicable on the distribution, so it’s wise to be conscious about how you withdraw your TSP funds after you…

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TSP Withdrawal as a Death Benefit

tsp death benefit

In the event that a participant dies before filing an application for TSP withdrawal, the rules and regulations that need to be followed by your beneficiary change quite a bit. Spouse beneficiaries will receive ownership of the account and the funds in contains as a Thrift Savings Plan Death Benefits in form 81 of a beneficiary…

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TSP Share Prices and Withdrawal

TSP Share Prices and Withdrawal Federal employees who are considering a TSP withdrawal after leaving federal service tend to spend a whole lot of time figuring out complex investment and TSP withdrawal strategies to optimize the returns and minimize the tax hit. However, most of it is based on choosing the correct TSP withdrawal option for you, which…

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TSP Withdrawal Taxes as a Rollover Into a Roth IRA

TSP Withdrawal Taxes as a Rollover Into a Roth IRA It might be wise for you to consult with a tax expert before trying to initiate a TSP withdrawal to Roth IRA rollover. The IRS rules and TSP Withdrawal Taxes treatment that govern the movement of funds in and out of Roth IRAs can be highly complex,…

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TSP Interfund Transfers and Contribution Allocations

TSP Interfund Transfers

Many federal employees make a TSP withdrawal right after separation from service. One big reason for this is because contributions for those enrolled before September 5, 2015 go to the G Fund by default. This means your contributions and earnings are invested into government treasuries, which are considered relatively safe and stable compared to the stock indices…

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TSP Annuity vs. Monthly Payments – Strategies and Goals

TSP Annuity vs. Monthly Payments – Strategies and Goals Apart from a single payment as a lump sum amount for immediate spending, other Thrift Savings Plan (TSP) withdrawal options include monthly payments and/or a TSP lifetime annuity. It’s quite common for federal employees to face a situation where there isn’t enough of an account balance for all three options.…

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Why You Should Avoid Making A TSP Withdrawal

Why You Should Avoid Making A TSP Withdrawal There are a few reasons to avoid making a TSP withdrawal. However, the issue is whether or not you need current income, and whether or not you’re satisfied with the limited options the TSP makes available to you, and if you are afraid that your TSP share…

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TSP Beneficiary Participant Withdrawal For Federal Employees

TSP Beneficiary Participant Withdrawal For Federal Employees The TSP beneficiary of a deceased federal employee (who was a TSP participant) may find the account investments have been moved into a TSP Beneficiary Participant Account (BPA). It’s possible to operate it much like you would any other TSP account, but without the contributions. It’s also possible to choose any of the TSP…

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