The Thrift Savings Plan (TSP), a retirement plan for federal employees and uniformed service members, is the nation's largest defined contribution plan, with seven million participants and over $ ...
Similar to a traditional 401(k) retirement savings plan, pretax contributions to a TSP account lower your taxable income, while contributions and earnings grow tax-sheltered until you withdraw them.
Yes, this situation would qualify for a TSP hardship withdrawal, says Stephen Zelcer, a fiduciary advisor specializing in retirement planning and federal benefits. See here: https://www.tsp.gov ...
The Thrift Savings Plan (TSP), a cornerstone of retirement planning for federal employees and uniformed service members, oversees an impressive $845 billion in assets, making it the nation's ...
Unlike loans, hardship withdrawals cannot be repaid, meaning the withdrawn amount permanently reduces the retirement savings balance. Additionally, taking a hardship withdrawal may result in taxes ...
The Thrift Savings Plan is a retirement savings and investment account for federal government employees. Also known as the TSP, the Thrift Savings Plan offers similar features and benefits to a ...
The column touched on longevity risk and pointed workers to the retirement-income calculator on the TSP website — and it offered a few tips, including “Don’t invest your money too ...
It is tempting to tap TSP funds for a hardship, and it could be the right thing to do, says Stephen Zelcer, a fiduciary advisor specializing in retirement planning and federal benefits.