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27 Cards in this Set

  • Front
  • Back
Tax advantages
Before tax contributions/and tax deferred investment earnings
FERS
Federal Employees' Retirement System
CSRS
Civil Service Retirement System
3 Sources of TSP Contribution
Employee
Agency Automatic(1%)
Matching
2 Types of Employee Contributions
Regular
Catch up
Catch up
additional payroll deductions if you are over 50 yo
FERS Vested time restriction
3 years for most
2 years for congressional and non career positions
Death
Matching
First 3% is matched 100%
Second 2% is matched 50%
Max match is 5%
Early Withdrawal penalty
Before 55 yo is 10% penalty tax
Deduction Limits
$15,000 Regular
$5,000 Catch-up
Types of Individual Funds
G, F, C, S, I
L funds
L 2040-for after 2035
L 2030-for after 2025
L 2020-for after 2015
L 2010-for after 2008
L Income for 2008
G Fund
Short term US Treasury NO RISK
F Fund
Bond Index Fund LBA Index
C Fund
Stock index S&P 500 index
S Fund
Stock Index tracks the Dow Jones
I Fund
International
3 ways to get money out of TSP
A loan
in-service withdrawal
Post-separation withdrawal
Loan processing Fee
$50 deducted from loan amount
Two types of Loans
General and Residential
How much can you borrow?
$1000 to $50000
Wait period between loans
60 days
Time to repay loans
5 years general
15 years residential
Financial Hardships, how many can you have?
one every 6 months
An annuity purchase must be more than...
$3500
Withdrawal deadline
70 1/2 and are separated from service
TSP is covered under Title Code
5