Author Topic: TSP Participants  (Read 7382 times)

dude

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TSP Participants
« on: February 23, 2017, 08:06:51 AM »
Always fun to see where you fall vis--vis other fed workers:

http://federalnewsradio.com/mike-causey-federal-report/2017/02/whos-the-tsps-5-million-manwoman/

My rough math:

>$1mil = Top 0.2%
$750k-$999k = Top 0.9% (99th percentile)
$500k-$749k = Top 1.6% (98th percentile)
$250k-$499k = Top 10% (90th percentile)
$50k - $249k = Top 39% (61st percentile)

Currently happily ensconced in the 98th percentile and hoping to make the 99th by the time I get out of here in just over 2 years.

Drifterrider

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Re: TSP Participants
« Reply #1 on: February 23, 2017, 08:19:30 AM »
I'm in the 90th.  Was under the 10% limit for a long time and I earned a relatively low wage for those years as well.


ducky19

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Re: TSP Participants
« Reply #2 on: February 23, 2017, 09:23:58 AM »
Great job to you both! I think it's funny that the only explanation for someone having over $5M in their account is that they brought some of it from somewhere else.

wenchsenior

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Re: TSP Participants
« Reply #3 on: February 23, 2017, 09:27:16 AM »
I'm hoping we crack the 98%tile by the end of this year.  Just under 50K to go. Will depend on market returns.

If so, it will have taken 17 years to get there, partly because of us screwing around and not getting serious until about 10 years ago.

Sailor Sam

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Re: TSP Participants
« Reply #4 on: February 23, 2017, 02:05:50 PM »
Hurmpf. I'm firmly in the middle of the top 39%. I comfort myself with the fact that I've got 12 years of service, which is well under the 18.6 average noted in the article. We're still above average, my competitive soul.

Slow2FIRE

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Re: TSP Participants
« Reply #5 on: February 24, 2017, 12:03:59 AM »
Great job to you both! I think it's funny that the only explanation for someone having over $5M in their account is that they brought some of it from somewhere else.

Yeah, with the 5% match (not great compared to private employers I've had) and the lack of after tax TSP contributions, there is no other way to have a $5MM+ account than to have a rollover.  I just ran the numbers using S&P500 returns with dividends from 1986 to December 2016 and the best you can do (with the match) is just under $2,000,000 as the TSP started in 1986.

neverrun

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Re: TSP Participants
« Reply #6 on: February 24, 2017, 05:04:10 AM »
In the 90th as well, should move up to the 98th by the end of the year barring a large market decline.

neverrun

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Re: TSP Participants
« Reply #7 on: February 24, 2017, 05:08:01 AM »
Great job to you both! I think it's funny that the only explanation for someone having over $5M in their account is that they brought some of it from somewhere else.

Yeah, with the 5% match (not great compared to private employers I've had) and the lack of after tax TSP contributions, there is no other way to have a $5MM+ account than to have a rollover.  I just ran the numbers using S&P500 returns with dividends from 1986 to December 2016 and the best you can do (with the match) is just under $2,000,000 as the TSP started in 1986.

Theory, Federal Judge appointed in the late 80's who came from somewhere else that already had a 401k.

dude

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Re: TSP Participants
« Reply #8 on: February 24, 2017, 07:36:22 AM »
Nice, congrats to you fellow Feds for making it happen!

wenchsenior

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Re: TSP Participants
« Reply #9 on: February 24, 2017, 07:44:02 AM »
At least some of us should revive this thread next Feb and see if we managed to tip into the 99th....

PhrugalPhan

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Re: TSP Participants
« Reply #10 on: February 24, 2017, 07:47:00 AM »
My gf has a TSP where she is in the top 0.5% and is hoping to make the top 0.2% by her retirement date in 22 months. 

To the high TSP-ers, do you have any special plans for when you retire? That is... let the co-workers know what you have when you leave?  My gf doesn't like many of her co-workers and will probably let it "slip" how much she has as she walks out the door.
« Last Edit: February 24, 2017, 08:21:47 AM by PhrugalPhan »

dude

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Re: TSP Participants
« Reply #11 on: February 24, 2017, 11:09:50 AM »
My gf has a TSP where she is in the top 0.5% and is hoping to make the top 0.2% by her retirement date in 22 months. 

To the high TSP-ers, do you have any special plans for when you retire? That is... let the co-workers know what you have when you leave?  My gf doesn't like many of her co-workers and will probably let it "slip" how much she has as she walks out the door.

I'm in a small office and have been a vocal champion of TSP investing since I got to this office 10 years ago, and my office colleagues have caught on and are doing it right.  From time to time we share our rough balances. We're all very psyched on retirement. Some of us will retire earlier then others, primarily because we don't have kids, but all should enjoy a very well-funded retirement.

Bruizer

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Re: TSP Participants
« Reply #12 on: February 24, 2017, 11:31:31 AM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA. 


kendallf

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Re: TSP Participants
« Reply #13 on: February 24, 2017, 11:37:58 AM »
In the 98%er group.  Will probably hit the 99th percentile in the next year or two.  It'll depend much more on market conditions than on my contributions, at this stage.  The irony is that I'm planning to hang around until MRA, and at that point my pension and supplemental pension will more than cover our expenses without even touching the TSP. 

To answer the "what will you do with it" question, I'll leave it in and hope that the multiple rollover option is implemented so I can do Roth IRA conversions eventually without having to move a large chunk of the account.
In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it.
― Robert A. Heinlein

sol

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Re: TSP Participants
« Reply #14 on: February 24, 2017, 12:02:51 PM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA.

I plan to convert it into a traditional IRA, and then make annual rollovers into my Roth IRA, so that I can access my TSP funds prior to age 59 without paying taxes or early withdrawal penalties.

Sailor Sam

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Re: TSP Participants
« Reply #15 on: February 24, 2017, 12:08:44 PM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA.

I'll probably leave it alone when I retire, since I'll be getting a pension the day I walk out the door (assuming 20 years service). I have no firm plan if the 20 year plan doesn't work out.

Yankuba

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Re: TSP Participants
« Reply #16 on: February 24, 2017, 12:49:36 PM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA.

IMO, the best part of the TSP is the G fund. You get intermediate bond returns with zero interest rate or default risk. would hate to lose access to the G Fund but from what I understand the TSP is very rigid when it comes to withdrawals so it will be a tough call when I retire.

I'm in the 98% with 15.5 years of contributions.

neverrun

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Re: TSP Participants
« Reply #17 on: February 24, 2017, 05:49:43 PM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA.

I'll probably leave it alone when I retire, since I'll be getting a pension the day I walk out the door (assuming 20 years service). I have no firm plan if the 20 year plan doesn't work out.

+1

bradne

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Re: TSP Participants
« Reply #18 on: February 24, 2017, 08:26:53 PM »
I am in the top 10% (90th percentile).  18 years of service.   Just finally maxed my contributions (18k)  As I will probably be around for another 10 years (I actually enjoy my job), I am aiming for that 1 mil mark (top .2%).  I believe it has already been discussed on other threads, but I find it extremely disappointing that many fed employees fail to take full advantage of TSP. 

For those of you interested, there is currently a White House petition to raise the number of interfund transfers to four a month (from the existing two). 
Here is the link.

https://petitions.whitehouse.gov/petition/allow-4-free-interfund-transfers-month-thrift-savings-plan

Ricksun

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Re: TSP Participants
« Reply #19 on: February 24, 2017, 09:06:04 PM »
So what are you all going to do with your TSP once you retire from the federal government?  I'm torn between leaving it all in the TSP and rolling a portion of it into an IRA/Roth IRA.

I plan to convert it into a traditional IRA, and then make annual rollovers into my Roth IRA, so that I can access my TSP funds prior to age 59 without paying taxes or early withdrawal penalties.

This, but only the amount I think ill need to convert until age 59.  Can't beat the fees in TSP... much better than even Vanguard.

shunkman

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Re: TSP Participants
« Reply #20 on: February 25, 2017, 04:54:00 PM »
99th percentile with about 34 years of service. I intend to retire next year when I turn 56. I will leave the funds in the TSP and take monthly withdraws and change this amount each year as necessary.

shunkman

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Re: TSP Participants
« Reply #21 on: February 25, 2017, 05:04:15 PM »
 

To the high TSP-ers, do you have any special plans for when you retire? That is... let the co-workers know what you have when you leave?  My gf doesn't like many of her co-workers and will probably let it "slip" how much she has as she walks out the door.
There is a lot of pettiness where I work too but I recommend taking the high road.

marion10

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Re: TSP Participants
« Reply #22 on: February 25, 2017, 05:25:14 PM »
Almost to the top 98. I worked part time for many years. I will hit it this year for certain

neverrun

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Re: TSP Participants
« Reply #23 on: February 26, 2017, 07:50:53 AM »
Quote
To the high TSP-ers, do you have any special plans for when you retire? That is... let the co-workers know what you have when you leave?

I might let people know how much I have.  Especially if there are new people in the office. 

I am one of 2 people in the office that give the same advice we each received when we started to the new hires.  There is this thing called TSP, put as much as you can in it.  Try to actually put in the Max (18k) as early as you can.  If you don't want to think about investing pick a target fund and put all your money into that.  The sooner you start the less you will miss the $ in your paycheck.  The final advice would be "See this is what you get with 24 years of contributions.  I put in the maximum most years and always contributed at least 10% of pay before that." 

I'm at "16.5" years, which is really 15.5 years as I wasn't eligible to contribute for the first year under the old rules.  (Hired mid July 2000 couldn't contribute until July 1, 2001)

Drifterrider

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Re: TSP Participants
« Reply #24 on: February 26, 2017, 09:12:31 AM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.

PhrugalPhan

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Re: TSP Participants
« Reply #25 on: February 26, 2017, 11:29:52 AM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (AFAIK) time from someone else.  I had 2 years with the feds in the 80's.
« Last Edit: May 06, 2017, 11:44:41 AM by PhrugalPhan »

wenchsenior

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Re: TSP Participants
« Reply #26 on: February 26, 2017, 02:27:29 PM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (ASAIK) time from someone else.  I had 2 years with the feds in the 80's.

Glad you guys brought this up. I've been badgering DH to buy back his military service time for THREE YEARS.  He still hasn't done it. I just went into his office and asked him to just give me whatever paperwork he has on it and I'll do it.  And he has a folder right on his desk! LOL. I do not know what mental block is holding him up all this time.  Maybe it's more complicated than I thought?  What is involved (in other words, what did I just take over?)

horsepoor

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Re: TSP Participants
« Reply #27 on: February 26, 2017, 02:54:10 PM »
Knocking at the door of 200 right now, so hopefully it won't be too long before I join the 10 percenters.  If things don't change too much, I'll probably use some TSP to defer taking SS, but with so much uncertainty and 18 years to go, nothing is carved in stone.

esskay1000

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Re: TSP Participants
« Reply #28 on: February 26, 2017, 03:52:59 PM »
I'm at the 98% after 21 yrs service. I plan to convert to part time in the next few months, even if it means taking a demotion. With my TSP stash and an even greater amount in taxable accounts, I'm ready to soft-land into FIRE with a part time gig. I really want to keep the gov health plan for a while until this administration figures out what they're gonna do with the ACA.

DirtDiva

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Re: TSP Participants
« Reply #29 on: February 26, 2017, 04:30:21 PM »
I'm in the 98th percentile as well.  I worked in the gov for 4 years and contributed 13.5k.  I rolled over all 401k money from before and after my government gig.  I love the G Fund, the low expense ratios, and the simplicity of the TSP.

I think about picking up that 5th year so I could qualify for a small pension...no convenient way to do it right now.

Slow2FIRE

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Re: TSP Participants
« Reply #30 on: February 26, 2017, 08:21:56 PM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (ASAIK) time from someone else.  I had 2 years with the feds in the 80's.

Glad you guys brought this up. I've been badgering DH to buy back his military service time for THREE YEARS.  He still hasn't done it. I just went into his office and asked him to just give me whatever paperwork he has on it and I'll do it.  And he has a folder right on his desk! LOL. I do not know what mental block is holding him up all this time.  Maybe it's more complicated than I thought?  What is involved (in other words, what did I just take over?)

Don't be too hard on your DH just yet!

I've been having many problems with my HR and tried over a period of 2 years, 16 emails, ~8 voicemails and several conversations with my manager to get my military years purchased into the Fed system.  Still hasn't gone through (this marks my 3rd year since I first attempted it), but then I noticed that the interest I pay is around 1.8%.  Therefore, if I continue to invest the $1800 I will have to pay for my military years, it should grow faster than the total fee to transfer the time.  I will then purchase my military time in my last year before I FIRE.  Since I noticed that I'll come out ahead, I'm not stressing it that much anymore.

Drifterrider

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Re: TSP Participants
« Reply #31 on: February 26, 2017, 08:24:37 PM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (ASAIK) time from someone else.  I had 2 years with the feds in the 80's.
[/quote

Mine was $4,200:  $790 redeposit and the rest interest BUT they reached all the way back to 1978 and picked up my summer hire time.  I'll break even in the first year of retirement.

Drifterrider

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Re: TSP Participants
« Reply #32 on: February 26, 2017, 08:27:01 PM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (ASAIK) time from someone else.  I had 2 years with the feds in the 80's.

Glad you guys brought this up. I've been badgering DH to buy back his military service time for THREE YEARS.  He still hasn't done it. I just went into his office and asked him to just give me whatever paperwork he has on it and I'll do it.  And he has a folder right on his desk! LOL. I do not know what mental block is holding him up all this time.  Maybe it's more complicated than I thought?  What is involved (in other words, what did I just take over?)

Buying military time is dead easy.  The only form you need to submit (from memory) is the DD Form 214.  He can make payroll deductions.  I bought my military time as well. 

Slow2FIRE

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Re: TSP Participants
« Reply #33 on: February 26, 2017, 09:27:46 PM »
Not to hijack but as an aside:

Do all of you know that if you have any temporary time before 1 Jan 1989 you can buy it back (just like military service).  It will take about one year from your initial form submission to find out how much you owe.

I bought back 4.5 years.
My GF bought back I think it was 8 months for ~$500.  Great deal if you can get it.  Shame she can't buy (ASAIK) time from someone else.  I had 2 years with the feds in the 80's.

Glad you guys brought this up. I've been badgering DH to buy back his military service time for THREE YEARS.  He still hasn't done it. I just went into his office and asked him to just give me whatever paperwork he has on it and I'll do it.  And he has a folder right on his desk! LOL. I do not know what mental block is holding him up all this time.  Maybe it's more complicated than I thought?  What is involved (in other words, what did I just take over?)

Buying military time is dead easy.  The only form you need to submit (from memory) is the DD Form 214.  He can make payroll deductions.  I bought my military time as well.

Hah!  dead easy if you have an HR that does their damn J-O-B.

Acorns

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Re: TSP Participants
« Reply #34 on: February 26, 2017, 10:52:39 PM »
I am in the middle of the top 39%, I will probably never crack the next category now that I am in the Reserve, but I still think my balance is ok for 9 yrs of AD. I have 7 years until I can retire and I plan on leaving it in the TSP because of the very low expense ratio. Plus, TSP is pretty much dummy proof, limited funds to choose from that pretty much track established indexes. If the opportunity ever becomes available to backdoor an IRA I might do that, otherwise, I'll let it ride. I wish I had known earlier in my career that contributions made in a tax free zone (ie combat zone) are not taxed upon withdrawal. I maxed that sucker on my second tour in the sandbox, but not the first.

sparkytheop

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Re: TSP Participants
« Reply #35 on: February 27, 2017, 03:23:31 AM »
I'm in the top 10% after 16 years (first few years were part time).  I should break up to top 1.6% next year or two if things go well.  Not too bad for a single mom!  In my last position, I was so desperate trying to get out of there and hoping I could at least make it to 25 years and hope even more for an early out, that I was putting everything I possibly could into the traditional.  Now that I've moved on to a new position, no commute, love my job and schedule, I'm much more relaxed about staying until my MRA (57). 

I ran so many calculators, etc, that I decided recently to lower my contribution to 6% and focus on finally building my house instead.  For now, anyway.  Maxing out in the beginning (when max was 12%, not a dollar amount), and increasing every year, means that I can lower my contribution at this point and see very little change in the difference of the contribution.  If I add the very low end of my pension + tsp + other factors (no mortgage if I sell current house after building new house, etc), I end up with monthly income so high I'm not sure how I could spend it all.  And that's even with my now-reduced contribution.  It's a very good problem to have.


sparkytheop

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Re: TSP Participants
« Reply #36 on: February 27, 2017, 03:28:03 AM »
I have a question since all the TSPers are gathered in one place now as well...

For those of you who use firecalc to see success rates of past performances using your numbers, how do you divvy up the various funds?  I am in great shape if I use the default "couch potato" portfolio, but would really like to get a more realistic graph based on how I have my investments spread out.

(My post, which didn't get any responses, was here if you're trying to figure out what I mean: http://forum.mrmoneymustache.com/ask-a-mustachian/how-would-you-transfer-tsp-funds-into-firecalc/msg1442308/#msg1442308 )

davisgang90

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Re: TSP Participants
« Reply #37 on: February 27, 2017, 03:38:11 AM »
My plan is to retire next year, live primarily on my military pension and supplement with traditional IRA to Roth conversions.  I plan to leave my TSP alone and just watch it grow.
Check out my blog.  Early retirement from a military perspective.

http://chartprepping.com




kimmarg

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Re: TSP Participants
« Reply #38 on: February 27, 2017, 05:17:38 AM »
I'm on the upper end of the 'top 39' percent.  Hoping to crack into the top 10% in the next year or two.  I only have 9 years of service though and just got promoted to GS-12 in Oct.

DirtDiva

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Re: TSP Participants
« Reply #39 on: February 27, 2017, 06:15:44 AM »
I have a question since all the TSPers are gathered in one place now as well...

For those of you who use firecalc to see success rates of past performances using your numbers, how do you divvy up the various funds?  I am in great shape if I use the default "couch potato" portfolio, but would really like to get a more realistic graph based on how I have my investments spread out.

(My post, which didn't get any responses, was here if you're trying to figure out what I mean: http://forum.mrmoneymustache.com/ask-a-mustachian/how-would-you-transfer-tsp-funds-into-firecalc/msg1442308/#msg1442308 )

See your other thread for my best approximation. 

Drifterrider

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Re: TSP Participants
« Reply #40 on: February 27, 2017, 10:22:15 AM »

Buying military time is dead easy.  The only form you need to submit (from memory) is the DD Form 214.  He can make payroll deductions.  I bought my military time as well.

Hah!  dead easy if you have an HR that does their damn J-O-B.
[/quote]

If you wait for them, it is your fault.  If you ride them like a pony, they will do it just to get rid of you.

fattest_foot

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Re: TSP Participants
« Reply #41 on: February 27, 2017, 10:38:00 AM »
Hah!  dead easy if you have an HR that does their damn J-O-B.

I've got to agree with this. This forum convinced me that I should go ahead and buy mine back, so about 2 months before my 3 years was up, I went to my payroll office and asked how to go about paying it all in a lump sum. They had no clue. I gave up trying to figure it out. Luckily the interest was significantly less than I thought it'd be (I heard around 5%, but it ended up being about 1%).

Instead, about a year later, I just did $1000 per paycheck. They knew how to do that one!

Slow2FIRE

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Re: TSP Participants
« Reply #42 on: February 27, 2017, 11:58:49 AM »

Hah!  dead easy if you have an HR that does their damn J-O-B.

If you wait for them, it is your fault.  If you ride them like a pony, they will do it just to get rid of you.

Sure, sure, I believe you.

I've been having many problems with my HR and tried over a period of 2 years, 16 emails, ~8 voicemails and several conversations with my manager to get my military years purchased into the Fed system.  Still hasn't gone through (this marks my 3rd year since I first attempted it), but then I noticed that the interest I pay is around 1.8%.  Therefore, if I continue to invest the $1800 I will have to pay for my military years, it should grow faster than the total fee to transfer the time.  I will then purchase my military time in my last year before I FIRE.  Since I noticed that I'll come out ahead, I'm not stressing it that much anymore.

I even forwarded all the correspondence to my Manager so they could see the scope of the problem.  On Lync, the HR person often is "offline" and has never responded to a message (however, they didn't go so far as to "block" me).  Frankly, I think they need to be fired and just wanted to speak with their Manager, but my own Manager warned me that I could face reprisals from HR if I did that (all of a sudden EVERY SINGLE DAMN THING I need processed would take FOREVER).

However, like the other poster, I found that the percentage penalty actually makes it more efficient to just not pay until my last year.  At that time, I'll go in person to the office and have a frank discussion with the HR people if it is the same person handling retirements, if it is a different person than hopefully it goes smoother.  Inflation increases faster than the costs of buying back my military years since I've already received the first quote on the purchase price in 2014.  The percentage rate is better than the "loss" from paying down your mortgage early with the only risk being that I die before I retire and they try to deny the military years being added in for my FERS retirement benefit for my spouse.

You see, I have a job to do myself and can't spend 2-3hrs a day for the next 2 months to get this settled, so I'll wait until I'm ready to submit my retirement paperwork and get it done when I'm not so worried about keeping my production numbers and docket management at Fully Successful.

sol

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Re: TSP Participants
« Reply #43 on: February 27, 2017, 12:17:49 PM »
HR is the one part of the federal government that gives all of the other parts a bad name.

I deal with the Sacramento office.  I have horror stories.

kimmarg

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Re: TSP Participants
« Reply #44 on: February 27, 2017, 09:25:34 PM »
HR is the one part of the federal government that gives all of the other parts a bad name.

I deal with the Sacramento office.  I have horror stories.

The major issue in my agency seems to be them deeming people 'unqualified' for the job they currently hold. My position has specific educational requirements. I can't even tell you the number of people who are currently Position A in podunk, USA and applied to be position A in hometown USA and have been told they are 'unqualified'. Exact same position, same GS level, same occupational series, same job duties just change in location. It's mind boggling.

neverrun

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Re: TSP Participants
« Reply #45 on: May 06, 2017, 04:29:38 AM »
Well finally, I've been knocking on the door of entering the 1.6% for weeks, last night I crossed into it. So 15 years 9 months after I was eligible to start contributing.  I never rolled anything over, always "maxed" or thought I did (which meant in 2001 with a limit of 10% of salary for 6 months a whole $2,500 for the year).

Actually it was a small mistake in contribution to TSP that pushed e to begin to educate myself about money.  Year 3 or 4 I mistakenly thought the max dollar amount applied to a combination of my contribution and the employer match, so I cut my contribution to 12% instead of the 15% I could do that year.  I missed contributing a grand or 2 for that year.  But it got me reading and learning so I guess it was a good mistake in the end.

wenchsenior

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Re: TSP Participants
« Reply #46 on: May 07, 2017, 09:51:59 AM »
Well finally, I've been knocking on the door of entering the 1.6% for weeks, last night I crossed into it. So 15 years 9 months after I was eligible to start contributing.  I never rolled anything over, always "maxed" or thought I did (which meant in 2001 with a limit of 10% of salary for 6 months a whole $2,500 for the year).

Actually it was a small mistake in contribution to TSP that pushed e to begin to educate myself about money.  Year 3 or 4 I mistakenly thought the max dollar amount applied to a combination of my contribution and the employer match, so I cut my contribution to 12% instead of the 15% I could do that year.  I missed contributing a grand or 2 for that year.  But it got me reading and learning so I guess it was a good mistake in the end.

Sweet!  We're right behind you...hopefully within a year, possibly sooner.

simonsez

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Re: TSP Participants
« Reply #47 on: June 05, 2017, 10:25:05 AM »
I have money in both the traditional and Roth TSP.

When I retire, I would love to be able to put Roth TSP in a Roth IRA but keep traditional in TSP.  I believe this is currently not possible with the proportional/rollover rules.

Thus, I want to move my TSP funds outside when I retire (unless the rule changes by then).  Are there any hangups in rolling over all my TSP (traditional + Roth) into separate IRA and Roth IRA accounts at the same time?  This looks feasible on the TSP-70 form but wanted to make sure.

neverrun

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Re: TSP Participants
« Reply #48 on: June 05, 2017, 04:25:07 PM »
I have money in both the traditional and Roth TSP.

When I retire, I would love to be able to put Roth TSP in a Roth IRA but keep traditional in TSP.  I believe this is currently not possible with the proportional/rollover rules.

Thus, I want to move my TSP funds outside when I retire (unless the rule changes by then).  Are there any hangups in rolling over all my TSP (traditional + Roth) into separate IRA and Roth IRA accounts at the same time?  This looks feasible on the TSP-70 form but wanted to make sure.

Yes you can transfer both, if you want to keep the Traditional with TSP you can look at this work around.  Transfer all but say $1 in each account out and re-transfer the traditional back in. 

giggles

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Re: TSP Participants
« Reply #49 on: June 05, 2017, 06:55:20 PM »
Expect to break 100k this quarter.  8 years of service.  First year I am maxing out my contributions.