Search found 461 matches

by MichDad
Sun Nov 10, 2019 11:08 am
Forum: Personal Investments
Topic: What’s in your TSP?
Replies: 47
Views: 3278

Re: What’s in your TSP?

I began investing in the TSP in 1987 as a transferee into the FERS pension system. For the first year or so, all TSP participants were limited to the G Fund. As soon as other funds opened up, I left the G Fund for the C, S, and I Funds. I’ve never owned the L or F Funds. I remained solely in the C, ...
by MichDad
Fri Nov 08, 2019 8:30 am
Forum: Personal Investments
Topic: TSP Contributions - Retiring Mid Year
Replies: 16
Views: 1070

Re: TSP Contributions - Retiring Mid Year

I retired at age 62 on March 31, 2018 with a FERS pension and over 35 years of service. I compressed all of my TSP contributions and catch-up contributions into the nine (I believe) pay periods I worked that year. My actual net pay each pay period was very low. I received the five percent government...
by MichDad
Mon Nov 04, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: BigLaw Junior - Portfolio Review and General Investing Strategy
Replies: 9
Views: 892

Re: BigLaw Junior - Portfolio Review and General Investing Strategy

I concur with the others who've advised that you do it yourselves. You can learn this stuff easily and it doesn't take a lot of time to implement and maintain. Over the course of your careers, you'll save tens, maybe hundreds, of thousands of dollars if you do it yourselves. Given your positive cash...
by MichDad
Mon Nov 04, 2019 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella policy with no car insurance
Replies: 18
Views: 1188

Re: Umbrella policy with no car insurance

This is an interesting conundrum. When we retired last year and moved outside the USA, my plan was to sell our car. I called my insurance company, State Farm, and told them about this plan. They told me that if we didn't have an insured car, they couldn't continue our umbrella policy with them. [We ...
by MichDad
Thu Oct 24, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Seeking a 30 Year Fixed Rate Mortgage
Replies: 4
Views: 850

Seeking a 30 Year Fixed Rate Mortgage

I’m helping my SIL navigate the refinance of her detached single family house so she can take cash out to do a major renovation. She’s seeking a 30-year fixed rate mortgage of $450,000. This mortgage will be below 80 percent of the home’s value. She has very good credit. As a baseline, I see that Pe...
by MichDad
Fri Oct 18, 2019 8:06 am
Forum: Personal Investments
Topic: Considering Foregoing Medicare Part B to Make Roth Conversions
Replies: 8
Views: 1040

Considering Foregoing Medicare Part B to Make Roth Conversions

I’m a 64 year old retired federal employee covered for life under a very decent Federal Employees Health Benefits (FEHB) plan. My wife and I live outside the USA six months each year. Our FEHB plan covers us while living abroad. Medicare does not cover people living outside the USA. We currently hav...
by MichDad
Thu Oct 17, 2019 2:54 pm
Forum: Personal Investments
Topic: Thrift Savings Plan Withdrawal Process
Replies: 7
Views: 597

Re: Thrift Savings Plan Withdrawal Process

Wiggums wrote:
Thu Oct 17, 2019 2:26 pm
Did you remove all the money from the TSP?

No.

Are you still eligible to contribute to the TSP?

No, I retired on March 31, 2018.
MichDad
by MichDad
Thu Oct 17, 2019 2:52 pm
Forum: Personal Investments
Topic: Thrift Savings Plan Withdrawal Process
Replies: 7
Views: 597

Re: Thrift Savings Plan Withdrawal Process

Just wondering why you would not keep the G fund? When I'm done making all the moves I started on September 30th, I'll still have over $1 million in the G Fund. I'll use that money, in addition to my FERS pension and some rental income, to fund our living expenses beyond age 70, when I'll begin to ...
by MichDad
Thu Oct 17, 2019 2:36 pm
Forum: Personal Investments
Topic: Thrift Savings Plan Withdrawal Process
Replies: 7
Views: 597

Re: Thrift Savings Plan Withdrawal Process

Two questions: 1. Would you mind sharing which brokerage is willing to pay you this "signing bonus" for receiving funds? With the exception of Vanguard and Fidelity, I think just about any of the other major brokerage firms will pay substantial signing bonuses, even for existing account holders. Fi...
by MichDad
Thu Oct 17, 2019 11:22 am
Forum: Personal Investments
Topic: Thrift Savings Plan Withdrawal Process
Replies: 7
Views: 597

Thrift Savings Plan Withdrawal Process

I recently completed the transfer of my entire Roth TSP balance (>$200,000) to a brokerage firm that will pay me $1,000 to hold that money. Now that these Roth TSP funds are no longer in my TSP – but are instead in a Roth IRA – they will not be subject to Required Minimum Distributions (at age 70.5 ...
by MichDad
Mon Oct 07, 2019 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Is there some reason that you couldn’t have had the documents needed later notarized now? Could you not generate them within the TSP system? I cannot calculate precisely the amount of money I'll withdraw as a lump sum in about six weeks. Our G Fund balance is increasing over time. So, we cannot sig...
by MichDad
Thu Oct 03, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Please note that the requirement to have spouse sign the TSP withdrawal form applies to FERS and military accounts, but not to CSRS accounts. The signature requirement is part of the FERS law, so yes, it would take an act of Congress to change that. CSRS spouses receive notification. The above is t...
by MichDad
Thu Oct 03, 2019 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Participant Account Balances
Replies: 48
Views: 14594

Re: TSP Participant Account Balances

I just thought of two additional pieces of information that may be of interest to federal employees: First, of the ~$1.9 million in my TSP account, my contributions from my bi-weekly payroll deductions over 29 years was just under 25 percent of the total. I think this is like saying that every dolla...
by MichDad
Thu Oct 03, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Participant Account Balances
Replies: 48
Views: 14594

Re: TSP Participant Account Balances

I’m posting this in case it might inspire others to begin or continue steady long term investing towards retirement. I maintain an Excel spreadsheet of my TSP investments with detailed information from every statement I received from the TSP from May 1987 to present. Here are my key milestones, the ...
by MichDad
Thu Oct 03, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Please note that the requirement to have spouse sign the TSP withdrawal form applies to FERS and military accounts, but not to CSRS accounts. The signature requirement is part of the FERS law, so yes, it would take an act of Congress to change that. CSRS spouses receive notification. The above is t...
by MichDad
Wed Oct 02, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Does it always take an act of the Congress to change anything in the TSP? In that case, changes to non-spouse beneficiary rules may not take place in my lifetime. :annoyed Congressional legislation is not always required before the Federal Retirement Thrift Investment Board can change the TSP rules...
by MichDad
Tue Oct 01, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

I already have the answer to that last point. I was told yesterday by a TSP customer service representative that participants may only submit one withdrawal form every thirty days. The three withdrawals I'm in the process of making each require separate withdrawal forms. Could you imagine Vanguard,...
by MichDad
Tue Oct 01, 2019 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

It also seems that you’d be better off moving your assets to one of the other financial institutions that you mentioned. Obviously, you are unhappy with the TSP so why continue to be aggravated? You're right that I'm unhappy with certain aspects of the TSP. Foremost among them is the difficulty of ...
by MichDad
Tue Oct 01, 2019 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Today, I faxed my completed application to the TSP to transfer my Roth TSP to a brokerage firm. In accord with the rules, my wife and I had to sign the application before a notary. What irks me is that when I set up my planned large lump sum TSP transfer to a brokerage firm and when I set up my pla...
by MichDad
Tue Oct 01, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

According to the Legislative Report contained in the August meeting minutes of the FRTIB, on August 23, 2019, Senators Rubio and Shaheen of the Senate Committee on Foreign Relations sent a letter to the FRTIB “requesting that the Board reverse its November 2017 decision to change the Thrift Savings ...
by MichDad
Tue Oct 01, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Today, I faxed my completed application to the TSP to transfer my Roth TSP to a brokerage firm. In accord with the rules, my wife and I had to sign the application before a notary. What irks me is that when I set up my planned large lump sum TSP transfer to a brokerage firm and when I set up my pla...
by MichDad
Mon Sep 30, 2019 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Today, I faxed my completed application to the TSP to transfer my Roth TSP to a brokerage firm. In accord with the rules, my wife and I had to sign the application before a notary. What irks me is that when I set up my planned large lump sum TSP transfer to a brokerage firm and when I set up my plan...
by MichDad
Mon Sep 30, 2019 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

I’m completely underwhelmed by the implementation of the TSP’s Additional Withdrawal Options rule. My wife and I just returned to the USA after living and traveling abroad for the past several months. [Yes, retirement is great.] Last Thursday, I moved all the money in my TSP account into the G Fund ...
by MichDad
Fri Sep 27, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

It's worth remembering that the G Fund is not a bond fund: it's essentially a money market fund or stable value fund. Because it offers the yield of intermediate-term Treasuries but not the total return of those Treasuries, it doesn't play the quite the same role in a portfolio as a genuine bond fu...
by MichDad
Mon Sep 09, 2019 5:31 am
Forum: Personal Investments
Topic: Too late for a Roth?
Replies: 20
Views: 2475

Re: Too late for a Roth?

I don’t know your full financial situation so it’s more difficult to provide precise advice. Since you’ll receive both a FERS pension and Social Security, you should give serious consideration to investing in the Roth TSP and/or a Roth IRA. Personally, I’d invest in both.

MichDad
by MichDad
Sun Sep 08, 2019 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

There are several good threads on this site that discuss the benefits of the G Fund. It’s my sense that most Bogleheads with access to the G Fund think very highly of it. Many, including me, use it as their only bond fund in their retirement portfolio. I have more than enough in my G Fund account to...
by MichDad
Sun Sep 08, 2019 2:40 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Are you sure an actual notary signature is needed and not a medallion signature? See: Medallion Signature Guarantees: Preventing the Unauthorized Transfer of Securities | Investor.gov Banks do medallion signatures (and notary signatures). The new rule specifically mentions the need for spousal cons...
by MichDad
Sat Sep 07, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Re: Multiple spousal approvals before a notary — what a royal pain. This, plus the inability to make in-plan Roth conversions, plus offers by several low cost brokerage firms to pay me thousands of dollars to move funds to them are the reasons why I’ll move all but my G Fund holdings out of the TSP ...
by MichDad
Wed Sep 04, 2019 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 9519

Re: Federal Employee Burn or Sick Leave [before retirement]

To me, the concept of hoarding sick leave implies the use of annual leave in lieu of sick leave. I’m not sure how it can be interpreted otherwise.

MichDad
by MichDad
Wed Sep 04, 2019 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 9519

Re: Federal Employee Burn or Sick Leave [before retirement]

Most years during my lengthy government service, I had “use or lose” annual leave. I routinely used annual leave for the few occasions I was sick or needed to care for my wife. There was absolutely nothing illegal or unethical about it.

MichDad
by MichDad
Wed Sep 04, 2019 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

I too saw that the FRTIB didn’t respond directly to the issues I raised. For example, they ignored my comment that they should allow spouses to sign general consents and not require multiple consents. They also completely ignored one of my principal comments. Again, I was more than disappointed. Mic...
by MichDad
Wed Sep 04, 2019 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

The Federal Retirement Thrift Investment Board has just published its final rule on Additional Withdrawal Options. It received only eighteen comments from the public and rejected all suggested changes to the proposed rule. It has adopted the proposed rule as written and the new withdrawal options wi...
by MichDad
Mon Sep 02, 2019 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 9519

Re: Federal Employee Burn or Sick Leave [before retirement]

Michdad Why didn't you take the two week time off award and just donate more of your annual leave? It’s a bit complicated. Back in the 1980s, the leader of my agency gave awards to people based on political views and not on merit. I announced then, as a sort of protest, that I would never accept an...
by MichDad
Mon Sep 02, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 9519

Re: Federal Employee Burn or Sick Leave [before retirement]

Paul,

I’ve read your message three times and I can’t figure out what point you’re trying to make. Can you please provide more details?

If it helps, I never considered myself to be important or indispensable. I did feel my work was important and benefited the public.

Thanks,

MichDad
by MichDad
Sun Aug 25, 2019 5:03 am
Forum: Personal Investments
Topic: Using TSP versus non-government funds in retirement
Replies: 29
Views: 2317

Re: Using TSP versus non-government funds in retirement

Hopefully TSP implements in-plan Roth conversions down the road (I believe they have the authority to do so) but in the meantime there is a work-around by rolling out to an IRA, converting and rolling back in to Roth TSP. Not great but it's certainly doable. The TSP does not accept incoming transfe...
by MichDad
Thu Aug 08, 2019 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Also, the timing of solicitation of Federal Register comments (due 8/9/19) compared to the actual implementation date means there's very little hope that any revisions based on public input (such as the ideas discussed in this thread) would be made prior to or immediately after implementation, IMO....
by MichDad
Tue Aug 06, 2019 5:01 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 9519

Re: Federal Employee Burn or Sick Leave [before retirement]

I retired last year with a FERS pension and over 35 years of service. I had more than 17 months’ worth of unused sick leave. I viewed my sick leave balance as a short-term disability insurance policy. Fortunately, I never had to tap into it. That unused sick leave was added to my service time to inc...
by MichDad
Tue Jul 30, 2019 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

I'm posting this reminder that the public has until August 9, 2019 to submit comments to the Federal Retirement Thrift Investment Board on its proposed rule on Additional Withdrawal Options. I hope many here will submit comments. This is a good opportunity to express your views, if any, about allowi...
by MichDad
Mon Jul 29, 2019 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: FEGLI or Private Life Insurance?
Replies: 30
Views: 1414

Re: FEGLI or Private Life Insurance?

Many years ago, there was an open season for FEGLI. Back then, I was a young[er] and healthy federal employee. [One of those two adjectives still applies.] I comparison shopped private term life insurance policies and compared the rates against the FEGLI premiums. Fortunately, I qualified for the lo...
by MichDad
Wed Jul 10, 2019 5:23 am
Forum: Personal Finance (Not Investing)
Topic: Roll TSP into IRA? Keep G Fund?
Replies: 23
Views: 1463

Re: Roll TSP into IRA? Keep G Fund?

With the exception of the G Fund, there's no longer much reason to stay significantly invested in the TSP after retirement. After the new rule on Additional Withdrawal Options takes effect in September, I plan on transferring all but my G Fund holdings to IRAs and Roth IRAs with low expense brokerag...
by MichDad
Sat Jul 06, 2019 12:04 pm
Forum: Personal Investments
Topic: G Fund Question in Retirement
Replies: 32
Views: 2655

Re: G Fund Question in Retirement

As (it seems) always, I agree with TimeRunner’s post up-thread. In practice, I was more aggressive than he but I knew I was taking a risk. With the exception of the first year or so (around 1987) when I began investing into the TSP, I was invested solely in the C, S, and I funds for about 34 years. ...
by MichDad
Thu Jul 04, 2019 4:59 pm
Forum: Personal Consumer Issues
Topic: Frequent Flyer No Man's Land?
Replies: 17
Views: 2333

Re: Frequent Flyer No Man's Land?

I agree with those who say that this isn’t worth the effort. It nevertheless bothers me that we flew on a full service airline but we’re not entitled to any frequent flyer miles credit.

What should I have done at the outset to avoid this problem?

MichDad
by MichDad
Thu Jul 04, 2019 4:00 am
Forum: Personal Consumer Issues
Topic: Frequent Flyer No Man's Land?
Replies: 17
Views: 2333

Frequent Flyer No Man's Land?

Recently, I purchased two round-trip tickets on Austrian Airlines from Vienna to Paris. Austrian Airlines is a member of the Star Alliance with United Airlines so I provided my United Airlines Mileage Plus number when I booked and paid for the tickets. After I completed the trip, I checked my United...
by MichDad
Tue Jul 02, 2019 3:55 am
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

The Federal Retirement Thrift Investment Board's May 2019 meeting minutes are now available. Here's the link: https://www.frtib.gov/MeetingMinutes/2019/2019May.pdf Of primary interest, the Additional Withdrawal Options project remains on track to go live on September 15, 2019. Here's a link to an im...
by MichDad
Fri Jun 28, 2019 3:11 pm
Forum: Investing - Theory, News & General
Topic: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?
Replies: 24
Views: 2176

Re: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?

Autolycus, This is very helpful. Thank you! MichDad I'm sure it's not nearly as helpful as your TSP updates! That's very kind of you. It's interesting that you say that. The reason I posed the question is because I'm preparing detailed comments to the Federal Retirement Thrift Investment Board abou...
by MichDad
Fri Jun 28, 2019 2:51 pm
Forum: Investing - Theory, News & General
Topic: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?
Replies: 24
Views: 2176

Re: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?

ERISA/revenue code requires any plan that has an annuity as the default benefit form must provide a joint and survivor annuity as the default for any married participants. That's any DB (defined benefit) plan as well as some types of DC (defined contributions) plans--money purchase pensions and "an...
by MichDad
Wed Jun 26, 2019 5:42 am
Forum: Investing - Theory, News & General
Topic: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?
Replies: 24
Views: 2176

Re: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?

Thank you, Livesoft. However, the link you provided is about a spousal consent requirement before making someone other than the spouse the primary beneficiary of the 401(k) plan. That is not the issue I'm concerned about. Both my wife and I have designated each other as the primary beneficiaries of ...
by MichDad
Wed Jun 26, 2019 5:22 am
Forum: Investing - Theory, News & General
Topic: Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?
Replies: 24
Views: 2176

Spousal Consent Required for 401(k) Plan Withdrawals or Rollovers?

Assume I have a 401(k) plan account with a previous employer and I'm now retired and over age 59.5. Also, assume I'm married. Is there a law or regulation that requires my spouse to consent before I may take distributions from my 401(k) account or rollover my 401(k) account to an IRA or Roth IRA wit...
by MichDad
Mon Jun 24, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

Let me begin by reminding people that the proposed rule on Additional Withdrawal Options for the Thrift Savings Plan has been published and interested parties (such as TSP participants and beneficiaries) can submit comments on the proposed rule. Comments must be submitted on or before August 9, 2019...
by MichDad
Sat Jun 08, 2019 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 418
Views: 62117

Re: Improving the TSP [for current participants]

SquawkIdent, You make a good point. After participants transfer assets from the TSP to an IRA or a Roth IRA, there's no need for further spousal approval to move or spend funds (from the IRAs). The limitations remaining on TSP withdrawals after this proposed modest improvement are indeed frustrating...