Posted on Saturday, 5th September 2015 by Dennis Damp
In TSP – Ways to Safeguard Your TSP, part 1 of this series, I discussed a significant reason why a spouse that inherits a TSP account would want to transfer their TSP account to an IRA. According to the TSP, “If a TSP beneficiary participant (Annuitant’s spouse) dies, the new beneficiary(ies) cannot continue to maintain […]
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| Comments (0)Posted on Saturday, 4th July 2015 by Dennis Damp
Updated 6/22/2023 When a spouse is designated the beneficiary of a Thrift Savings Plan (TSP) account, the TSP establishes a beneficiary participant account in the spouse’s name. The money in the beneficiary participant account stays invested as it was in the deceased participant’s account except for any money the participant had invested in the mutual […]
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| Comments (0)Posted on Thursday, 11th June 2015 by Dennis Damp
Please share this article with your friends and associates. Any mention of our articles and www.fedretire.net on your Facebook, Twitter, and social media accounts would be appreciated. Wow, going on eleven years retired and I’m still learning valuable life lessons! There are so many times in my life when I reflect back on certain events and realize the […]
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| Comments (0)Posted on Saturday, 16th May 2015 by Dennis Damp
(Updated 2/26/2023) I received a call from the wife of a friend who passed away. She was concerned about her options after being notified by the TSP that her husband’s account was converted to the G Fund upon his death. She was approached by a financial planner that suggested she transfer her husband’s TSP account […]
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Posted on Monday, 6th April 2015 by Dennis Damp
(Updated 2/26/2023) In my article titled Have You Considered Hiring a Financial Advisor, I discussed professional investment assistance and the advantages and costs associated with hiring a financial advisor. This article focuses on the Thrift Savings Plan (TSP), its benefits, and their very low management fees compared to other funds. It also introduces you to various […]
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Posted on Friday, 13th February 2015 by Dennis Damp
(Updated 2/26/2023) Many are uncomfortable with investing and managing money in general. The Federal Reserve intentionally kept interest rates artificially near ZERO for many years and now that interest rates and inflation are soaring in 2023, do we ladder CDs, buy short term Treasuries and corporate bonds, and/or invest in the market with its inherent […]
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| Comments (0)Posted on Friday, 23rd January 2015 by Dennis Damp
Updated 2/22/2024 Please forward this article to everyone in your organization that is planning on retiring over the next five years and tag it for your Facebook and other social media pages. Once you retire you lose access to many online agency and government web sites that hold valuable information that you may need after […]
Tags: eOPF Guidance, Federal Employees, Federal Employees Retirement Planning, Retirement Planning
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Posted on Monday, 5th January 2015 by Dennis Damp
The article we published on Survivor’s Benefits stated that “Upon your death, the funds in your TSP account cannot remain in the TSP. Your account will have to be distributed to the beneficiary(ies) you indicate on Form TSP-3, Designation of Beneficiary.” This information is correct for non-spouse beneficiaries. When a spouse is determined to be […]
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