Many readers have asked retirement author John Grobe about what happens to your TSP contributions if you die with “money in the pot.” Here are some answers.
What will you do when you retire? Many people travel to places they have always wanted to visit. Author Steve Oppermann is one of these retirees. He travels around the world, when not conducting human resources seminars for federal agencies.
There would be no Social Security funding problem for at least the next 25 years, if the government had not raided the trust fund. If the trust fund held the $2.5 trillion of surplus Social Security revenue, in the form of real marketable bonds, as it should, it could continue to pay full Social Security benefits until at least 2037.
Some people just assume that, since the Social Security surplus was “borrowed” or “stolen,” during the period when it was not needed to pay Social Security benefits, the government will automatically repay the looted money when it is needed. It is not at all certain that this will happen.
For federal employees in the FERS system, the Thrift Savings Plan is intended to provide 1/3 of your retirement income. So, how do you go about creating a plan for your TSP that won’t leave you scratching lottery tickets as a last resort?
How to fix Social Security is a topic that has been around ever since a demographer realized that the number of workers supporting an individual Social Security recipient was gradually dropping. The options are to cut benefits or raise more revenue.