The matches are on a per pay period basis. When the max annual amount is reached, the matches stop.If you reach the max before the 26th pay period, you miss the match for the remaining pay periods.Say you reach the annual max at 20 pay periods – you won't get any match for the remaining 6. From:...
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Re: [TSPStrategy] Matching
Matching is based on the amount your are paid each pay period, not how much you contribute each pay period. So you will lose matching for the remaining 16 pay periods if you front load your contributions in the first 10 pay periods. It generally only make sense to front load your contributions...
![Re: [TSPStrategy] Matching Re: [TSPStrategy] Matching](http://2.bp.blogspot.com/-erTXCq61ULM/TmHYAQBZ0GI/AAAAAAAACCs/6cBX54Dn6Gs/s110-c/default.png)
Re: [TSPStrategy] Matching
I don't understand the issue. The employee is receiving the full authorized match on their maximum contribution of $26,000 in the first 10 pay periods. They wouldn't receive any more matching funds if they had spread the contributions over 26 periods.The problem I see is the risk they are...
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[TSPStrategy] Matching
How Matching Pays Off in the TSP By Tammy Flanagan July 29, 2021 Sometimes, it’s a good idea to question the advice even of a professional financial adviser, especially when it comes to the ins and outs of the federal retirement system. Recently, an employee told me about meeting with their...
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[TSPStrategy] Convert IRA to Roth IRA
Link to homepageSubscribe to KiplingerSave up to 76%SubscribeHomeRetirementRETIREMENTConverting a Traditional IRA to a Roth in RetirementYou can convert money to a Roth no matter how old you are. But if the conversion boosts your income, it could have taxing consequences.by: Kimberly LankfordJune...
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Re: [TSPStrategy] 20% tax on withdrawals
Yes, transfers of Roth portions of the TSP to an outside Roth IRA has already been implemented as TSP-536 "Important Tax InformationAbout Payments From Your TSP Account", dated 4/2021 indicates. Such a transfer would prevent any amounts being included in RMDs. But I...
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Re: [TSPStrategy] 20% tax on withdrawals
You'll find the password and other relevant information for joining any of the webinars here:https://www.tsp.gov/online-learningOn 7/24/21 at 6:51 AM, Robert Albright wrote: From: "Robert Albright"...
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Re: [TSPStrategy] 20% tax on withdrawals
The Roth portion of a TSP can and should be rolled over to a Roth IRA before 72 - this from one of the TSP webinars and also from a tax lawyer presenting during a NITP seminar. This will avoid RMDs from the Roth portion.On 7/24/21 at 6:03 PM, Mo in Seattle (Mo4iu@yahoo.com)...
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Re: [TSPStrategy] 20% tax on withdrawals
On Saturday, July 24, 2021, 12:20, lindalyc via groups.io <lindalyc=aol.com@groups.io> wrote:Thank you, Mo: I'm learning, so I do have questions: Item#1:--------isn't Roth IRA (not Roth TSP) excludes from RMD by IRS?ANSWER #1: Yes, no RMDs are required to be taken from...
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Re: [TSPStrategy] 20% tax on withdrawals
Mo's comment here is the most completely accurate and comprehensive on this topic posted so far. Agree that TSP has been my friend on these matters. RMD is forced by IRS. TSP only helps us out with compliance so we don't get screwed with IRS 50% penalty. There is NO way to shelter income by going to...
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Re: [TSPStrategy] 20% tax on withdrawals
Thank you, Mo: I'm learning, so I do have questions: Item#1:--------isn't Roth IRA (not Roth TSP) excludes from RMD by IRS? Item#2:--------so I take RMD from Roth TSP and since I don't need it I'd put it in regular brokerage where I'd be taxed on dividends earned or capital...
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