10:34 pm, May 28, 2015

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  • 4

  • Not the best excuse, Truth Please
    deployed decoy
    TSP has a very complicated ROTH like thing now. Military who contribute to TSP in the war zones put it tax FREE. That money stays tax FREE forever, only the earnings (assumes there are earnings as the country spirals into the abyss) are taxed at some future date. This has to be a very complicated algorithm. That was long ago figured out. The reason I believe is TSP is dragging their feet on a Roth. Is they know in the future tax rates are going to start at 50% and want that money back. Thus the military has a partial TSP Roth now, maybe the logic the FederalTimes used to assume the military and federal judges would gain the most from a Roth TSP. No idea. I would sure like my $250k in TSP earnings to be tax free one day. Too late for me, maybe too late for the country. Now how about looking back to 1984. it was not until 1987, 3 years after I was one of the first FERS fools that I was allowed to contribute to TSP. How about retroactive donations, matching funds and assumed gains over the last 25 years. I was cheated out of.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Delay on TSP Roth option
    It's unfortunate to say the least that TSP won't be permitting any rollovers of existing TSP accounts, all of which, of course, only contain at present pre-tax dollar contributions, to the new Roth option, whenever it is eventually rolled out. The TSP's website has information that says that the law establishing the new option does not permit such rollovers from taking place. Perhaps whenever Congress gets around to something other than budgetary squabbles this might be something for current TSP account holders (both current and former employees, including retirees) to bring to their attention.
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  • Why???
    Big Joe
    Why is this even a big deal? Anyone that wants a Roth can just go to any mutual fund company and get one. The only benefit to a TSP Roth is the lower management fees, which I believe are offset by the "eggs in one basket" rule.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Why
    deployed decoy
    Well my close to $425k in TSP has about $250k in earnings. I sure would have liked paying between 2 and 15% federal tax on my contributions over the last 30 years up front. Now I fear I will get taxed at 35-55% when I withdraw my TSP - on all of it - because everyone is in a tax bracket that starts at 35% and jumps to 50% for high earners, say above $20k/Yr. For the record feds in war zones pay income tax on salary, the only Americans here that do. Since my kids are under 17 and I get all those deductions and credits as well as about $1500 a month in tax free incentives. My effective US federal tax rate has been under 5% for the last 10 years. I would have really loved paying that 5% for a Roth TSP account on the $26k a year I have been putting away (includes matching funds).
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  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }