What’s not optional, given this President’s track record on respecting private property rights, the law, or regulatory procedure, is that by 2012 there will be more fingers in the TSP pie than one can count, many of which will be unseen. The “mutual fund” option will be the lever…stand by to watch the petcock open on this, now.
Tobacco Bill and TSP
RETIRED USAF Tue Jun 23, 2009 4:28 PM
Why are we messing with something that has worked so good?
5% Match
AF Captain USAF Tue Jun 23, 2009 9:28 PM
When do they start matching our contributions up to 5%? That sounds like a good deal.
Re: 5% Match
Attorney DOD Wed Jun 24, 2009 7:28 AM
I'm sorry I do not know about military but for civilians they match 100% of the first 3% contributed and then 50% of the next 2%.
Re: 5% Match
Supervisory IT Specialist DoN Wed Jun 24, 2009 9:25 AM
The Military does not get any match.
It's still a great deal as you can not beat the TSPs low fees.
It would be great to see the military get matching funds, like civil service.
Re: 5% Match
worker fed Fri Aug 7, 2009 10:05 AM
What is the military pension? if it is like CSRS then military should not get a match. If it is like FERS, then military should get a match.
Good News - New TSP Survivor Benefit
Retired Manager After 40 Years Service DoC Tue Jun 23, 2009 9:55 PM
"Third, A survivor benefit would allow spouses of deceased TSP participants to maintain TSP accounts."
At least one bit of good news -- I always wondered why it was set up to force TSP survivors to withdraw/roll over everything when the spouse died anyway?
I hope the TSP board proceeds rapidly to write the new regulations for this sensible survivor change. After all, lots of feds and retirees are passing away every day.
I'm glad I have at least one item to applaud under Hope and Change. But, for the other changes . . . . . ?
TSP
Engineer USAF Wed Jun 24, 2009 10:57 AM
There has always been the option for the survivor to not withdraw or rollover the TSP - as long as it is a spouse and it is a designated benificiary.
I am retiring in one month so I will need to watch the government more closely - I think that lately they know how to screw up the economy - hope they don't screw up the TSP also.
Re: TSP
DoD Budget Analyst NAVY Thu Jul 2, 2009 10:56 AM
Engineer - if you are that close to retirement...then you would want to convert your TSP over to an annuity or at least only hold onto the TSP for a couple of years before converting it into an annuity. They pay a lot better than the TSP and you'll get a steady income from it. If you keep the TSP - then you'll have to set up withdraw schedules...etc.
Roth Option - Good News!
DoD Budget Analyst NAVY Thu Jul 2, 2009 11:04 AM
Finally we will probably get a Roth option to our TSP. This is great to have some tax diversification - especially for those who are in FERS. You'll be able to contribute after tax dollars to a Roth plan that has lower fees than probably 99% of the retirement plans out there. The best situation would be that an employee has both some taxable retirement funds and some non-taxable retirement funds. That way depending on what the taxes are in the future, you can withdraw more from one depending on the tax rates. With the large spending by the Feds right now, we may have higher taxes in the future. If that happens, then having $ in the Roth TSP would benefit you more because your withdrawls are tax-free. If taxes are lower in the future, it's best to have the current TSP, but since we don't know what is going to happen - the best scenario would be to have some of each. That way you can withdraw the same amt of $ but divide it up between the two TSP options depending on your tax bracket
Tobacco Legislation
Project OFficer DHHS Thu Jul 2, 2009 3:13 PM
Did the Tobacco law include the modification of the criteria for who invests the money of the TSP?
Several months ago, an article indicated that many small investment firms were blocked out by the big investment firms for contracts to invest the TSP monies. Mention was made the Congress would be requested to modify the TSP rules as to the credentials of money managers of TSP monies so as to allow smaller/minority firms etc to reap profits from investing TSP funds.
Roth IRA Option
IT Security Officer NPS Tue Jul 7, 2009 8:37 AM
A Roth Option is a win/win for federal employees.
But my question is if one is already maxing out their IRA limits, will this Roth otion expand the amount that can be invested in an IRA?
This year that's $5,000 / $6,000 for those over 50 and 2010 limitation Indexed to Inflation.
Re: Roth IRA Option
Field Examiner NLRB Tue Jul 7, 2009 12:49 PM
My wifes Employer just offered this plan (Roth 401K). They allow 16.5% in any Employer offered plan and that does not include the $5,000 max to your personal Roth. Not sure if it will be the same limits, but I would think so. I would assume it would be the same limits we currently have for our TSP just the alternative of investing post tax opposed to pre and that it would not effect our personal Roth limits. If so that would be great.
Tobacco Bill Add-ons
Liaison DOL Tue Sep 8, 2009 8:18 AM
what was done with TSP sounds fair enough; however, what did it have to do with the tobacco legislation? That is part of the biggest fear people have with our law makers as many admit they have not fully read the legislation for which they are voting.
TSP
USPS
Tue Jun 23, 2009 9:40 AM
Bet they don't invest in GM or Chrysler....
They know losers when they create them.
Fingers Meet Pie...
None
Tue Jun 23, 2009 12:57 PM
What’s not optional, given this President’s track record on respecting private property rights, the law, or regulatory procedure, is that by 2012 there will be more fingers in the TSP pie than one can count, many of which will be unseen. The “mutual fund” option will be the lever…stand by to watch the petcock open on this, now.
Tobacco Bill and TSP
USAF
Tue Jun 23, 2009 4:28 PM
Why are we messing with something that has worked so good?
5% Match
USAF
Tue Jun 23, 2009 9:28 PM
When do they start matching our contributions up to 5%? That sounds like a good deal.
Re: 5% Match
DOD
Wed Jun 24, 2009 7:28 AM
Re: 5% Match
DoN
Wed Jun 24, 2009 9:25 AM
It's still a great deal as you can not beat the TSPs low fees.
It would be great to see the military get matching funds, like civil service.
Re: 5% Match
fed
Fri Aug 7, 2009 10:05 AM
Good News - New TSP Survivor Benefit
DoC
Tue Jun 23, 2009 9:55 PM
"Third, A survivor benefit would allow spouses of deceased TSP participants to maintain TSP accounts."
At least one bit of good news -- I always wondered why it was set up to force TSP survivors to withdraw/roll over everything when the spouse died anyway?
I hope the TSP board proceeds rapidly to write the new regulations for this sensible survivor change. After all, lots of feds and retirees are passing away every day.
I'm glad I have at least one item to applaud under Hope and Change. But, for the other changes . . . . . ?
TSP
USAF
Wed Jun 24, 2009 10:57 AM
There has always been the option for the survivor to not withdraw or rollover the TSP - as long as it is a spouse and it is a designated benificiary.
I am retiring in one month so I will need to watch the government more closely - I think that lately they know how to screw up the economy - hope they don't screw up the TSP also.
Re: TSP
NAVY
Thu Jul 2, 2009 10:56 AM
Roth Option - Good News!
NAVY
Thu Jul 2, 2009 11:04 AM
Finally we will probably get a Roth option to our TSP. This is great to have some tax diversification - especially for those who are in FERS. You'll be able to contribute after tax dollars to a Roth plan that has lower fees than probably 99% of the retirement plans out there. The best situation would be that an employee has both some taxable retirement funds and some non-taxable retirement funds. That way depending on what the taxes are in the future, you can withdraw more from one depending on the tax rates. With the large spending by the Feds right now, we may have higher taxes in the future. If that happens, then having $ in the Roth TSP would benefit you more because your withdrawls are tax-free. If taxes are lower in the future, it's best to have the current TSP, but since we don't know what is going to happen - the best scenario would be to have some of each. That way you can withdraw the same amt of $ but divide it up between the two TSP options depending on your tax bracket
Tobacco Legislation
DHHS
Thu Jul 2, 2009 3:13 PM
Did the Tobacco law include the modification of the criteria for who invests the money of the TSP?
Several months ago, an article indicated that many small investment firms were blocked out by the big investment firms for contracts to invest the TSP monies. Mention was made the Congress would be requested to modify the TSP rules as to the credentials of money managers of TSP monies so as to allow smaller/minority firms etc to reap profits from investing TSP funds.
Roth IRA Option
NPS
Tue Jul 7, 2009 8:37 AM
A Roth Option is a win/win for federal employees.
But my question is if one is already maxing out their IRA limits, will this Roth otion expand the amount that can be invested in an IRA?
This year that's $5,000 / $6,000 for those over 50 and 2010 limitation Indexed to Inflation.
Re: Roth IRA Option
NLRB
Tue Jul 7, 2009 12:49 PM
Tobacco Bill Add-ons
DOL
Tue Sep 8, 2009 8:18 AM
what was done with TSP sounds fair enough; however, what did it have to do with the tobacco legislation? That is part of the biggest fear people have with our law makers as many admit they have not fully read the legislation for which they are voting.