The author says that many federal employees have fixated on the age 59.5 with respect to supplementing income from the TSP without penalty. However, he says there are other options for accessing your money if you retire before this age.
CSRS Employees: Should You Deposit Money to Cover Temporary Federal Employment Early In Your Career?
CSRS employees often ask, “Should I deposit money to cover temporary time early in my career?” The author provides some considerations to help answer this question.
With all the talk about the TSP possibly opening up a mutual fund window and expanding withdrawal options, you may have forgotten that the TSP also offers a Roth option. The author describes the basics of how the Roth option works to help you decide if it is right for your situation.
The House of Representatives Budget Committee released its FY 2016 budget proposal today. Although it offers no specifics, the proposal calls for requiring federal employees and Members of Congress to make greater contributions towards their retirement programs.
While supporters of President Obama’s 2016 Fiscal Budget say the budget will make it easier to save for retirement, the proposal is giving mixed messages when it comes to retirement planning. The author highlights eight budget provisions that would have a negative impact on many retirement accounts.