A recent federal court decision regarding the validity of a beneficiary form is a stark reminder of why beneficiary forms need to be reviewed regularly by federal employees and retirees. Ed Zurndorfer outlines the implications for those who have contributed over the years to the Thrift Savings Plan more…
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Should Federal Employees and Retirees Perform Roth IRA Conversions?
Converting a traditional Individual Retirement Arrangement (IRA) to a Roth IRA is often a terrific strategy for many federal employees and retirees. But the uncertainty of what the tax rates will be in the future is perhaps the biggest challenge to determine if a Roth IRA conversion is a good idea. Ed Zurndorfer takes a closer look at this uncertainty and other considerations more…
Roth vs. Traditional TSP: Which One Should You Choose?
Many federal employees ask which Thrift Savings is more appropriate to contribute to. Ed Zurndorfer discusses seven of these considerations — including tax consequences and required minimum distributions (RMDs). Practical examples are included more…
What Happens If Excess Contributions Are Made to the TSP and Another Retirement Plan?
Ed Zurndorfer discusses what happens when a federal employee makes “excess deferrals” while participating in the Thrift Savings Plan and another qualified retirement plan. Practical scenarios are provided more…
Should Federal Retirees Enroll in Medicare?
Ed Zurndorfer provides answers to the frequently asked questions: Why should federal retirees enroll in Medicare? When should they enroll? Is there a late enrollment penalty? Which is “primary” coverage — Medicare or FEHB? more…
The TSP Mutual Fund Window
Chris Kowalik explains how the latest “upgrade” to Thrift Savings Plan may surprise you: what changes, stays the same, and the fee structure for the new investment options
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How to Fix a Missed Required Minimum Distribution (RMD)
A common mistake made with qualified retirement accounts and traditional IRAs is a missed RMD. Ed Zurndorfer discusses the steps to resolve this issue. Practical examples are included more…
How the TSP Calculates the Required Minimum Distribution (RMD)
Ed Zurndorfer explains how the Thrift Savings Plan calculates the TSP RMD, including the different rules that apply in a TSP participant’s first, second and subsequent distribution calendar years more…
When RMDs Can Be Combined and Taken from One Retirement Account
One of the more challenging and confusing parts of the required minimum distribution rules is understanding when RMDs can be combined and taken from one retirement account. Ed Zurndorfer, in the second of four columns discussing RMDs, discusses “RMD aggregation.” more…
Understanding Qualified Charitable Distributions (QCDs): The Importance of Timing to Maximize Tax Benefits
Ed Zurndorfer outlines what a QCD is, which retirement accounts permit them, how it can benefit individuals age 70.5 and older, how the timing of QCDs is important to not losing tax benefits, and potential tax traps more…