With many federal employees retiring within the next five to 10 years, questions on required minimum distributions from retirement plans (such as the TSP and IRAs) are becoming prevalent. Ed Zurndorfer, in the first of four columns discussing RMDs, discusses the RMD age and the required beginning date (RBD).
Why Every Federal Employee Needs An Estate Plan
Ed Zurndorfer discusses why every federal employee should think about how their assets will be disposed of at death — including personal residences, life insurance, Thrift Savings Plan, IRA funds, non-retirement brokerage accounts, checking and savings accounts and personal items
How to Avoid the Biggest Mistakes in Making Beneficiary Designations
A complete and comprehensive estate plan includes properly filled out beneficiary designation forms. Ed Zurndorfer discusses what federal employees need to consider in avoiding the 10 biggest mistakes in making their beneficiary designations
Thrift Savings Plan RMD and IRA Planning Strategies
The SECURE Act 2.0 resulted in several changes to the Thrift Savings Plan and IRAs. Ed Zurndorfer outlines a number of planning issues surrounding required minimum distributions (RMDs) for both active federal employees and retirees
TSP Updates In-service Age 59.5 Withdrawal Rules
In 2024, the Thrift Savings Plan updated its rules for in-service withdrawals. Ed Zurndorfer outlines the updated rules for TSP participants who make age-based (age 59.5) withdrawals
TSP Updates Financial Hardship Withdrawal Rules
Thrift Savings Plan updated its rules for in-service withdrawals earlier this year. Ed Zurndorfer discusses the updated TSP rules for financial hardship withdrawals in this part of a two-part series
How to Deal With OPM’s Delay in Retirement Application Processing
Delays in receiving your first full FERS or CSRS annuity check can be 3-10 months. Ed Zurndorfer, provides a checklist of how to expedite your retirement application — plus practical tips on how soon-to-retire employees should prepare for a possible cash flow problem during the early months of retirement
IRA Beneficiaries Get More Time to Make Traditional IRA RMDs
Ed Zurndorfer explains why any non-spouse beneficiary (with some exceptions) of a traditional IRA whose owner died after December 31, 2019, and who must withdraw the entire inherited traditional IRA within 10 years of the death of the traditional IRA owner, does not have to withdraw any inherited IRA funds during 2024
Understanding Social Security Widow/Widower Benefits
Ed Zurndorfer discusses Social Security widow/widower benefits including when and how a surviving spouse can receive a survivor benefit and how these benefits can assist the surviving spouse meet financial needs
Social Security and Children’s Benefits
In addition to retirement income, Social Security can also serve as a lifeline for children when one or both of a child’s parents retires, becomes disabled, or dies. Ed Zurndorfer discusses children’s Social Security benefits including which children are eligible, when these benefits are reduced and stop, and how parents can apply for them