In the May Newsletter we indicated that you could not pay back a loan to the TSP after you retired. Under the new record keeping system, this has now changed. If you leave federal service with an outstanding loan, you’ll be able to continue making loan payments by check, money order, or direct debit. You will not be able to apply for a new loan after you leave federal service.
Employees with an outstanding TSP Loan: As you are preparing for retirement, do you need to consider paying off an outstanding balance on a TSP loan? If so, you may want to make extra payments or consider re-amortizing your loan to get the balance paid back to your account before leaving federal service.
Plan your Federal Retirement Podcasts with Tammy Flanagan and Micah Shilanski, CFP partner provide fun and informative retirement planning guidance.
Retirement Planning Tammy's weekly column appearing on www.govexec.com covers what you need to know for a successful transition to retirement. Get the latest stories and updates sent to your inbox every Friday.
TSP offers free webinars for federal employees and uniform members.
Tammy's team provides one-on-one consultations on all your important retirement decisions as well as navigating FEHB and Medicare. They can also review your retirement forms to ensure they are complete. Contact the team here.
NARFE Federal Benefits Institute's upcoming webinars (must be a NARFE member to register). Join NARFE today!
Tammy Flanagan recently presented a webinar for Special Category Employees (Federal law enforcement officers (LEOs), firefighters (FFs), and air traffic controller (ATCs)) to help maximize your federal benefits when planning a "special" retirement from federal employment From Employee to Annuitant: Special Retirement Considerations for Special Category Employees.
Mark Keen, CFP® to discover Post-Retirement Tax Planning for Federal Employees on Wednesday, February 16 at 2 p.m. ET
Tammy will enlighten all on the decision points of when to retire in It's Not Magic: Target Your Best Retirement Date on Tuesday, March 15 at 2 p.m. ET
Tammy will provide important tips on the application in Preparing Retirement Forms: Costly Errors and How to Avoid Them on Wednesday, April 6 at 2 p.m.