A traditional IRA or a Roth IRA owner can name any adult as their IRA beneficiary. The IRS owner simply names an adult on the IRA beneficiary form. But this is not the case if the IRA owner wants to name a minor as beneficiary. When a minor inherits retirement dollars, the child is not […]
As the 2022 year ends, Federal Employees and Retirees need to consider many decisions about their benefits, taxes and their Thrift Savings Plan. Open Season is the time to review your health insurance pertaining to the benefits that may be needed in the coming year such a new baby or required surgery. It may be […]
The Thrift Savings plan, though simple in design, can get confusing in the details. There are some misconceptions that many participants have about their TSP, and we’ll look at them here. Many participants think that they will face a 10% early withdrawal penalty on anything they take out of the TSP before they reach the […]
Question: I retired under FERS from the VAMC just to return 1 year later to be re-employed as an annuitant. I am planning to retire for good this year. I’ll have been reemployed for three years in February 2023. Would it be better to wait and retire the end of January 2023? Reg’s Response: When […]
Only about six-tenths of TSP account holders who had at least $1 million on investment at the start of the year now can say the same, with the number falling to 65,494 in the latest accounting, through September. That’s down by some 7,000 from the count through June, by more than 47,000 from year-end 2021 […]