NT Federal Employees, what's good with your TSP's???

[elderwatsondiggs]

I see that the minimum retirement age is only 57 years old with a %5 annuity loss for every year you are under the age of 62 years old. So if I were to retire at 57 that would mean my annuity would be %75 of my highest 3 year salary average. Not trying to look to far ahead, but what I would probably do is retire at 57...and then do some consulting/contracting using the same skills I was using my whole career. That's the ole double dipping scenario. My wife's dad is doing just that...has 20 years in the military and receiving retirement from that, while banking ridiculous money as a contractor doing almost the same job...just a lot less work.

 

[elderwatsondiggs]

I see that the minimum retirement age is only 57 years old with a %5 annuity loss for every year you are under the age of 62 years old. So if I were to retire at 57 that would mean my annuity would be %75 of my highest 3 year salary average. Not trying to look to far ahead, but what I would probably do is retire at 57...and then do some consulting/contracting using the same skills I was using my whole career. That's the ole double dipping scenario. My wife's dad is doing just that...has 20 years in the military and receiving retirement from that, while banking ridiculous money as a contractor doing almost the same job...just a lot less work.

 

[omgitswes]

I'm just a Coop student...should I know what you guys are talking about? Because I have no idea.

When I started they gave me this huge packet, my mom went over it and she just told me don't worry about any of it. I'm worrying now

 

[omgitswes]

I'm just a Coop student...should I know what you guys are talking about? Because I have no idea.

When I started they gave me this huge packet, my mom went over it and she just told me don't worry about any of it. I'm worrying now

 

[seasoned vet]

- Fed employee, but havent looked at my TSP in ages, thanks for the reminder.

 

[seasoned vet]

- Fed employee, but havent looked at my TSP in ages, thanks for the reminder.

 

[cjdynasty]

Originally Posted by ElderWatsonDiggs

Originally Posted by CJDynasty

NUPE,

I just started myself and finished orientation a couple of weeks ago.  I didnt learn much at all about the TSP through that orientation.  I just talked it through with some of my friends and family.  To be honest I as am still unsure about it.  But I will be going into L2040.  Where are you stationed at?

Whatup 1906, I'll be in Northern VA working around Ft. Belvoir.

Okay, thats was up.  I think after I do my 3 years here, I might venture to the DMV area!

 

[cjdynasty]

Originally Posted by ElderWatsonDiggs

Originally Posted by CJDynasty

NUPE,

I just started myself and finished orientation a couple of weeks ago.  I didnt learn much at all about the TSP through that orientation.  I just talked it through with some of my friends and family.  To be honest I as am still unsure about it.  But I will be going into L2040.  Where are you stationed at?

Whatup 1906, I'll be in Northern VA working around Ft. Belvoir.

Okay, thats was up.  I think after I do my 3 years here, I might venture to the DMV area!

 

[cjdynasty]

People are killing that double dip thing here.  Retiring and then coming back on as a Contractor.  

 

[cjdynasty]

People are killing that double dip thing here.  Retiring and then coming back on as a Contractor.  

 

[bijald0331]

Maybe I should tell my Dad about these life funds. He's 50+ though (USPS for 18 years).

 

[bijald0331]

Maybe I should tell my Dad about these life funds. He's 50+ though (USPS for 18 years).

 

[rdfm]

Incorrect.

The FERS annuity is calculated at 1 percent of the average salary of your highest three years times the number of years you worked assuming you dip out before 62. If you stay until 62, it's the same only you get an extra tenth of one percent of your high-3 to multiply by your number of years worked.

This will come out to WAAAY less than 75% of your salary for your annuity. Even if you work from fresh out of college until you're 72, you'd get only 55%. In a more realistic scenario - say, from 25 years old until 57 - you'll get 32%. In general, FERS employees take home about a third of their high-3s for the rest of their lives. FERS pensions are not anything like CSRS pensions were. One could easily get 75% of his or her high-3 under that system.

 

[rdfm]

Incorrect.

The FERS annuity is calculated at 1 percent of the average salary of your highest three years times the number of years you worked assuming you dip out before 62. If you stay until 62, it's the same only you get an extra tenth of one percent of your high-3 to multiply by your number of years worked.

This will come out to WAAAY less than 75% of your salary for your annuity. Even if you work from fresh out of college until you're 72, you'd get only 55%. In a more realistic scenario - say, from 25 years old until 57 - you'll get 32%. In general, FERS employees take home about a third of their high-3s for the rest of their lives. FERS pensions are not anything like CSRS pensions were. One could easily get 75% of his or her high-3 under that system.

 

[elderwatsondiggs]

Originally Posted by RDFM

Incorrect.

The FERS annuity is calculated at 1 percent of the average salary of your highest three years times the number of years you worked assuming you dip out before 62. If you stay until 62, it's the same only you get an extra tenth of one percent of your high-3 to multiply by your number of years worked.

This will come out to WAAAY less than 75% of your salary for your annuity. Even if you work from fresh out of college until you're 72, you'd get only 55%. In a more realistic scenario - say, from 25 years old until 57 - you'll get 32%. In general, FERS employees take home about a third of their high-3s for the rest of their lives. FERS pensions are not anything like CSRS pensions were. One could easily get 75% of his or her high-3 under that system.

Thanks for that clarification, but the double dip is still in effect and I plan on doing it. I read on another site how great the CSRS is, it doesn't utilize Social Security and you can still do a TSP with it, just that it will not be matched.

 

[elderwatsondiggs]

Originally Posted by RDFM

Incorrect.

The FERS annuity is calculated at 1 percent of the average salary of your highest three years times the number of years you worked assuming you dip out before 62. If you stay until 62, it's the same only you get an extra tenth of one percent of your high-3 to multiply by your number of years worked.

This will come out to WAAAY less than 75% of your salary for your annuity. Even if you work from fresh out of college until you're 72, you'd get only 55%. In a more realistic scenario - say, from 25 years old until 57 - you'll get 32%. In general, FERS employees take home about a third of their high-3s for the rest of their lives. FERS pensions are not anything like CSRS pensions were. One could easily get 75% of his or her high-3 under that system.

Thanks for that clarification, but the double dip is still in effect and I plan on doing it. I read on another site how great the CSRS is, it doesn't utilize Social Security and you can still do a TSP with it, just that it will not be matched.

 

[moneyisthemotive]

im an economist for the government ... CSRS is better than FERS but it's not as bad as dude made it out to seem ... there are advantages to being FERS over CSRS ...

 

[moneyisthemotive]

im an economist for the government ... CSRS is better than FERS but it's not as bad as dude made it out to seem ... there are advantages to being FERS over CSRS ...

 

[energeegod]

on some will smith and martin in this joint

yea man what good have these people around me done?

what good have they encouraged? so they can't even say #$+* about me

what? having me do bad things... you call that cool? that's cool to you? *#$!%$ roaches

i could care less & i don't want to become CIA or FBI to playa hate on anyone or dictate their world, they can say what they want i could give a @*** what they want to do... go ahead on i don't need anyone or no girls... have them all, weak @%!++

2pac said it best *#$!%$ roaches

seriously there's worst $%@% going on in the world

 

[energeegod]

on some will smith and martin in this joint

yea man what good have these people around me done?

what good have they encouraged? so they can't even say #$+* about me

what? having me do bad things... you call that cool? that's cool to you? *#$!%$ roaches

i could care less & i don't want to become CIA or FBI to playa hate on anyone or dictate their world, they can say what they want i could give a @*** what they want to do... go ahead on i don't need anyone or no girls... have them all, weak @%!++

2pac said it best *#$!%$ roaches

seriously there's worst $%@% going on in the world

 

[elderwatsondiggs]

Originally Posted by EnergeeGod

yea man what good have they done?

what good have they encouraged? so they can't even say @%#* about me

what? having me do bad things... you call that cool? that's cool to you? #+%+!@ roaches

i could care less & i don't want to become a CIA or FBI to playa hate on anyone, they can say what they want i could give a %+$* what they want to do... go ahead on i don't need anyone or no girls... have them all weak *%%#%

2pac said it best #+%+!@ roaches

??? You're cool!!

 

[elderwatsondiggs]

Originally Posted by EnergeeGod

yea man what good have they done?

what good have they encouraged? so they can't even say @%#* about me

what? having me do bad things... you call that cool? that's cool to you? #+%+!@ roaches

i could care less & i don't want to become a CIA or FBI to playa hate on anyone, they can say what they want i could give a %+$* what they want to do... go ahead on i don't need anyone or no girls... have them all weak *%%#%

2pac said it best #+%+!@ roaches

??? You're cool!!

 

[energeegod]

^ they locked the other thread on this so you wouldn't quite get it srry 

so many people %%$# wit me and play stupid games to the point where i'd become CIA or FBI or somethin thats all

if they want to see good then why not have me do good things? heh? what kind of fool influences bad and then try to play like they good?

like seriously what would they do if they were me?

 

[energeegod]

^ they locked the other thread on this so you wouldn't quite get it srry 

so many people %%$# wit me and play stupid games to the point where i'd become CIA or FBI or somethin thats all

if they want to see good then why not have me do good things? heh? what kind of fool influences bad and then try to play like they good?

like seriously what would they do if they were me?

 

[georgehimself]

?????