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What’s Not To Like About the TSP
Leaving your money in the plan as a retiree does have some drawbacks.
Retirement Counseling and Training www.retirefederal.com
Last week, we looked at what makes leaving your money in the Thrift Savings Plan after retirement attractive to many federal employees and former feds. But as good as the TSP is, there are things that some retirees don’t like about it.
These include:
The inability to withdraw from specific funds, such as taking payments only from the G Fund while allowing the money in the other funds to continue to be invested.
Government Executive
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The case for leaving your money in the Thrift Savings Plan after retirement.
Retirement Counseling and Training www.retirefederal.com
The Thrift Savings Plan, without question, has become a very popular and trusted place for federal employees to save for their retirement. The numbers speak for themselves:
Plan assets climbed to $710 billion in December 2020 and the total number of participants reached 6.2 million.
There are 3.6 million Federal Employees Retirement System participants, with an average account balance at the end of 2020 of $164,000.
There are 287,000 Civil Service Retirement System participants, with an average account balance at the end of 2020 of $175,000.
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Tips on answering what can be a tricky question on your retirement application.
Retirement Counseling and Training www.retirefederal.com
There is one question on federal retirement application forms that seems very simple, but can cause difficulty if you’re not sure how to answer it correctly.
Here is the question as it appears on the Federal Employees Retirement System and Civil Service Retirement System Forms:
FERS
, Section C:
Do you have a living former spouse(s) to whom a court order gives a survivor annuity, or a portion of your retirement benefits based on your Federal employment?
Five ways Biden could change the federal workforce January 13 The incoming Biden administration has already promised to pursue federal workforce management in several different ways from the Trump administration s approach. (LeoWolfert/Getty Images) Joe Biden is set to take up the U.S. presidency in a week, a job that places him at the helm of the largest employer in the world: the U.S. government. Already Biden has established that he has very different priorities than President Donald Trump has taken with the federal workforce, and feds can expect to see several initiatives out of the new administration.
Rescinding controversial union executive orders