IRS Finalizes Rules for Mandatory Roth Catch-Up Contributions
One of the provisions passed into law as part of SECURE Act 2.0 (December 2022) requires that “catch-up” contributions made by higher-paid employees must go into a Roth account. This…
The Final Few Months of 2025 Require Year-End Retirement Planning
With less than three months remaining in 2025, now is the time for federal employees and retirees to get busy and perform some year-end retirement planning. The recently passed One…
Roth TSP Versus Roth IRA: Which is More Advantageous?
Many federal employees are familiar with the tax advantages associated with the Roth Thrift Savings Plan (TSP) account. Contributions to the Roth TSP are made with after-taxed dollars (deducted from…
How to Avoid the 8 Most Common Life Insurance Mistakes
Since 2004, September has been designated as life insurance awareness month by the nonprofit organization Life Happens (https://lifehappens.org). Life Happens is dedicated to helping consumers take personal financial responsibility through…
September is Life Insurance Awareness Month:Tax Treatment of Life Insurance
Since 2004, September has been designated as “life insurance awareness month: by the nonprofit organization Life Happens (https://lifehappens.org). Life Happens is dedicated to helping consumers take personal financial responsibility through…
September Is Life Insurance Awareness Month:Understanding the Different Types of Term Life Insurance Policies
Since 2004, September has been designated as “life insurance awareness month” by the nonprofit organization Life Happens (https://lifehappens.org). Life Happens is dedicated to helping consumers take personal financial responsibility through…
September Is Life Insurance Awareness Month: Federal Employees Are Encouraged to Ask Themselves Whether They Have Sufficient Life Insurance Coverage
Since 2004, September has been designated as “life insurance awareness month” by the nonprofit organization Life Happens (https://lifehappens.org/). Life Happens is dedicated to helping consumers take personal financial responsibility through…
Understanding the RMD Rules for TSP Beneficiary Participant Accounts: Non-Spousal Beneficiary Participants
A recent FEDZONE column discussed the RMD rules for a spousal TSP beneficiary participant. This FEDZONE column discusses the beneficiary participant withdrawal rules when a non-spouse is designated as the…
Understanding the TSP RMD Rules for TSP Beneficiary Participant Accounts: Spousal Beneficiary Participant Accounts
A Thrift Savings Plan (TSP) participant is strongly advised to designate a TSP account beneficiary. By designating a TSP account beneficiary, a TSP participant has control and flexibility who will…
The TSP and Required Minimum Distributions
A Thrift Savings Plan (TSP) participant who has separated from federal service (either left federal service or retired from federal service) must begin to take TSP required minimum distributions (RMDs)…