Can Roth TSP Withdrawals Be Taxed?
Could funds in your Roth TSP be taxed when you withdraw them? The answer is “yes, if you are not careful.”
If you are a federal employee, you may be wondering how to plan for your retirement and make the most of your Thrift Savings Plan (TSP). The TSP is a tax-advantaged retirement savings plan that allows you to invest in various funds and options, depending on your risk tolerance and goals. On this tag page, you will find articles and resources that will help you understand the benefits and features of the TSP, as well as tips and strategies to increase your investment returns and secure your future income. You will also learn about the latest news and updates on the TSP performance, fees, withdrawals, and more. Whether you are just starting your federal career or are near retirement, these articles will provide you with valuable information and guidance on how to make the best use of your TSP.
Could funds in your Roth TSP be taxed when you withdraw them? The answer is “yes, if you are not careful.”
The number of TSP millionaires has exploded with the rising stock market. Here are the facts and figures on this aspect of the TSP.
What does it take to accumulate $1 million or more in your TSP account? It may not be as daunting as it might seem. The author provides several detailed examples with hypothetical numbers.
All TSP funds had positive returns in February and all funds have positive returns for the year-to-date.
I am 61 and getting ready to retire soon when I turn 62 and can draw my Social Security. It doesn’t appear I will ever need to touch my TSP or IRA, however, I was told I have to spend my TSP when I get older – is this true?
What changes are likely to occur to your pay and benefits? These are some proposed changes federal workers might see under a new administration based on what we know today.
A TSP participant can designate anyone as a beneficiary to a TSP account, however, only a spousal beneficiary can choose to leave the funds in TSP. The author says it’s important to understand all implications of a spousal beneficiary deciding to keep funds inside of the TSP.
Certain categories of federal annuitants can now make penalty free withdrawals from the Thrift Savings Plan. Here is how to avoid incurring this 10% penalty.
A new military retirement system is going into effect. Here is how it will work.
The author says that because the F Fund has benefited from a very long period of declining interest rates, it may shock investors to find out that the fund’s performance could be lower going forward as interest rates rise.