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Search Tags: TSP
Do you know the difference between a Roth IRA and the Roth TSP option? Because if you don't, it could cost you thousands of dollars in taxes and in future income when you retire, Senior Correspondent Mike Causey says.
Sen. Daniel Akaka (D-Hawaii) introduced legislation Monday that would automatically increase new federal employees' contribution rate to their federal 401(k) style Thrift Savings Plan. the "Save More Tomorrow Act," would automatically escalate the contribution annually by 1 percent for the two years following enrollment. That gradually raises the contribution rate to 5 percent, making employees eligible for matching contributions from their agencies.
Hosts Bob Leins and John Elloitt discuss the Roth TSP and whether the plan is right for you.
May 7, 2012
The Thrift Savings Plan's Roth option rolls out today. The Federal Retirement Thrift Investment Board has been preparing for the new program for two years now, but despite the big push today many federal employees will actually have to wait to enroll in the new program. One of the largest federal payroll processors needs more time to upgrade its systems in preparation for the Roth option. Find information about which agencies are affected, as well as the five things feds should know about the Roth TSP below.
Thrift Savings Plan figures, which had been in an upward climb, appear to have stalled in April, with seven of the 10 funds finishing in the red last month
Of the more than 8,200 respondents, 86 percent were satisfied with TSP, according to the survey by the Federal Retirement Thrift Investment Board.
Registered employee benefit consultant Ed Zurndorfer joined The Federal Drive with Tom Temin and Emily Kopp to explain this provision, and other proposals that Congress is considering that impact your wallet.
Career coach Mike Townshend talks about what feds should think about as they plan for their retirement.
April 23, 2012
In a rare bipartisan move, the House oversight committee voted to bring a bill allowing phased retirements of federal employees to the floor for a general vote.
Economist Dave Redden joins host John Elliot to talk about investment options for federal employees.
April 16, 2012