Financial planning is key to a secure retirement, but your financial plan shouldn’t follow a “set it and forget it” strategy. Even in retirement, you’ll need to make important decisions that impact your nest egg, and an important one is where to…
If circumstances require you to take an in-service withdrawal from your Thrift Savings Plan (TSP) before you hit 59½, you’re subject to an IRS 10% penalty. This is in addition to the regular income taxes you’ll owe on the tax-deferred portion of…
Thrift Savings Plan (TSP) participants who have eligible retirement plans like a 401(k), 403(b), or a traditional IRA can roll the money from those funds into their TSP account. You have the flexibility to make this move while you’re still working or…
The Thrift Savings Plan (TSP) plays a crucial role in the retirement planning of federal employees. With assets totaling $845 billion and over 7 million participants, the TSP stands as the largest defined contribution plan in the United States, offering unique benefits…
A well-structured investment strategy involves segmenting your retirement savings into distinct "buckets," each tailored for different time horizons and types of expenses—typically short-term, intermediate, and long-term. Understanding where the G Fund fits into this approach can help you allocate your assets effectively.…
Unlike many of those in the private workforce, employment for federal employees is governed by federal laws. As a result, any divorce orders that affect your benefits must comply with these laws. It’s important to have an understanding of the documents you’re…
The standard contribution limit for your TSP is $23,000 annually. However, if you’re 50 or older, you’re currently allowed to add up to $7,500 in catch-up contributions. This can be a valuable tool in helping those nearing retirement boost their savings.
As…
The Thrift Savings Plan (TSP) was designed to provide federal employees with a retirement savings option comparable to a private sector 401(k), featuring lower fees and a 5% matching contribution from their agency. However, many federal employees are not contributing enough each…
Before taking money out of your Thrift Savings Plan (TSP) in retirement, it's important to know your options so you can choose what works best for you.
The SECURE Act 2.0 and TSP Required Minimum Distributions (RMDs)
You don't have to take…
In 2022, the mutual fund window was introduced, giving TSP participants access to a wider range of investment options. Instead of restricting you to the five funds offered through the TSP (G, F, C, S, and I funds), the mutual fund window…