Over 8,000 TSP hardship withdrawals in 2 weeks is pretty staggering considering that nobody actually lost income (all Federal Employees were made whole for lost pay and leave following the shutdown). Paychecks were never forfeited- just delayed. But I guess a lot of folks are in some pretty dire cash flow conditions, considering that eligibility to make a TSP Hardship Withdrawal requires one of the following: Continue reading →
I had a chance to tune in to the recent TSP podcast interview with the TSP Executive Director. Here’s 6 more reasons to love TSP:
1. TSP is always open for business, even during federal furloughs and shutdowns. This is because TSP is funded by the (miniscule) fees from funds and contributions (from both Civilian and Active Duty participants. Continue reading →
I just met up with a colleague this past weekend who works at the Treasury Department. He’s a fellow Veteran and has a few questions about performing a Military Service Credit Deposit. We’ll call him ‘Bill’.
Just one quick question. If I leave Treasury after say 2 years, will I still draw a pension? Or do I have to finish a full 20 years of service?
There are 2 issues here- First is the Eligibility to draw a FERS Annuity, Second is how many years go in to the FERS Annuity Calculation. Continue reading →