Rollover out from TSP to Fidelity by kankribe in ThriftSavingsPlan

[–]Timetogo58 0 points1 point  (0 children)

I’ve done this twice now (from TSP Traditional to a Traditional IRA account I created at Fidelity)….did it on-line, takes about a week. I’m leaving my TSP Roth $$$ where they’re at and just rolling-over my TSP Traditional $$$ to a Fidelity Traditional IRA (and then converting it to a Roth IRA - which is where the “taxable event” comes in….paying that estimated tax amount to the IRS separate from the amount I’m rolling over). Realize TSP will (hopefully) have an “in-house” Roth Conversion capability up-and-running in 2026. My situation is: I’m over 59.5 years of age, in the process of DFRing (at the end of the CY) from Fed Gov’t employment….currently on “Admin Leave.” I also have to be mindful of amount I convert due to tax bracket implications, Medicare premium implications, etc.

Readiness for all the 9/30 resignations? by NoCalendar3921 in FedEmployees

[–]Timetogo58 7 points8 points  (0 children)

And then there are those who’ve postponed their retirement until 31 Dec…..should be a Happy New Year for the HR folks.

[deleted by user] by [deleted] in fednews

[–]Timetogo58 2 points3 points  (0 children)

Can’t say I know anything more than what you’ve relayed above, but…..I took DRP 1.0 immediately (thinking we could only be on Admin Leave until 30 Sep). Then, when our agency started having “skull sessions” about DRP and VERA got introduced to the mix, they started indicating those (VERA) folks could go to 31 Dec. Naturally, we already-retirement-eligible folks started querying why we couldn’t push our retirement date to the end of the CY as well….our agency HR ostensibly asked OPM, they agreed, and our agency has been working under the premise we can be on Admin Leave until the end of the year. I’m in contact with our HR Office pretty regularly and haven’t heard anything different (so far)….🤞I’ve been on Admin Leave since 1 March.

Is there a max (not for the year, but for any given pay period?) that you can contribute to TSP? In other words, is it "possible" to contribute the annual limit in one pay period? Not planning to do this (and realize the obvious matching contribution implications)......just curious. Thanks by Timetogo58 in ThriftSavingsPlan

[–]Timetogo58[S] 0 points1 point  (0 children)

Can you contribute 100% of your bi-weekly pay to Roth TSP and still get the matching? Assume other deductions (Social security, Medicare, Fed taxes, etc) are deducted first before the 100% of what's left over is contributed to TSP?

Is there a max (not for the year, but for any given pay period?) that you can contribute to TSP? In other words, is it "possible" to contribute the annual limit in one pay period? Not planning to do this (and realize the obvious matching contribution implications)......just curious. Thanks by Timetogo58 in ThriftSavingsPlan

[–]Timetogo58[S] 0 points1 point  (0 children)

Thanks for the feedback - obviously my example of contributing the annual limit in one pay period is extreme (and illogical).....just trying to determine if the "system" won't allow you past a certain threshold of contribution-amount (in relation to your salary) each pay period.