At 55 you can take it out without penalty. Any time before 55 you must use 72t. When the pension reform act was passed it allowed early withdrawals for local law enforcement officers from eligible retirement plans without a penalty. I think federal law enforcement and ATC should lobby for the same benefits. This is the first batch of retirees under the new system and obviously some changes need to be made to TSP for LEOs and ATCs.
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Any Retired Fers Atc ?
- Thread starter Rick
- Start date
At 55 you can take it out without penalty. Any time before 55 you must use 72t. When the pension reform act was passed it allowed early withdrawals for local law enforcement officers from eligible retirement plans without a penalty. I think federal law enforcement and ATC should lobby for the same benefits. This is the first batch of retirees under the new system and obviously some changes need to be made to TSP for LEOs and ATCs.
James48843
Well-known member
A Detroit approach ATC'er saved my life in 2002 when I checked in outside and below the Class B while departing Willow Run. I was running northwest bound, having just leveled at 2,000 feet, which is below the floor of the class "B". Heading home after a day at work.
I normally don't check in for traffic advisories, but this day I did.
When I gave him my info, location and direction of flight, he gave me "Decend IMMEDIATELY, traffic at 10 o'clock, same altitude, less than one mile". I pushed the yoke over on the word IMMEDIATELY, and before the word "...mile" was spoken, a Baron filled my windscreen slightly above me.
The miss was by about, I'd say, less than 25 feet horizontal, less than 50 feet verticle. I had not seen him because he was coming at me from the left, a hair above me in my high wing cessna, and was double my speed.
Had the controller not given me that "Decend IMMEDIATLY" info, it would have been a mid-air for sure. There is no doubt in my mind about it.
Thanks ATCers.
I normally don't check in for traffic advisories, but this day I did.
When I gave him my info, location and direction of flight, he gave me "Decend IMMEDIATELY, traffic at 10 o'clock, same altitude, less than one mile". I pushed the yoke over on the word IMMEDIATELY, and before the word "...mile" was spoken, a Baron filled my windscreen slightly above me.
The miss was by about, I'd say, less than 25 feet horizontal, less than 50 feet verticle. I had not seen him because he was coming at me from the left, a hair above me in my high wing cessna, and was double my speed.
Had the controller not given me that "Decend IMMEDIATLY" info, it would have been a mid-air for sure. There is no doubt in my mind about it.
Thanks ATCers.
wv-girl
Member
I remember something about that..but can't quite recall details. Could you elaborate? Wasn't there class action suits following?
tia
Debbie
budnipper1
Active member
I'm not ATC, but I remember when Reagan fired the striking ATCs...federal employees have a no strike-clause in their labor contract, but they walked out anyway. Reagan gave them 2 days to come back to work or be fired. The same rules apply to my union contract with usps. For what it's worth, a positive thing I can add is that there is also a "no lay-off" clause.I remember something about that..but can't quite recall details. Could you elaborate? Wasn't there class action suits following?
tia
Debbie
http://en.wikisource.org/wiki/Ronald_Reagan's_ultimatum_to_striking_air_traffic_controllers
Last edited:
budnipper1
Active member
Flashback: August 3, 1981
http://www.youtube.com/watch?v=-vVJ51Zh4JI
http://www.youtube.com/watch?v=-vVJ51Zh4JI
On August 3, 1981 nearly 13,000 of the 17,500 members of the Professional Air Traffic Controllers Organization (PATCO) walked off the job, hoping to disrupt the nation's transportation system to the extent that the federal government would accede to its demands for higher wages, a shorter work week, and better retirement benefits.PATCO president Robert Poli demanded an across-the-board wage increase of $10,000/yr for controllers whose pay ranged from $20,462 to $49,229; the reduction of a five-day, 40-hour work week to a four-day, 32-hour work week; and full retirement after 20 years service
Over 11,000 strikers received their pink slips, while 1,200 went back to work within a week's time.
Over 11,000 strikers received their pink slips, while 1,200 went back to work within a week's time.
Hallatauer
Member
Hehe... that's is true.. we still call it Washington National and pilots respond appropriately too.
I will retire in May 2008 and plan to leave my money in the TSP and take money out monthly. I will front load my retirement to have more money in my 60's and 70's for travel. I am 60 now and after I am 80 or so My FERS annuity will probably be enough to live on til I croak. I have other IRA accounts but none are doing as well as the TSP and they cost a lot more. I use the EBB chart system through TSPTALK.com and so far this year I have made about 27% on my account. It takes a little work but certainly is worth it. I would sure like to hear if there is a better way.
GWILLIAMS:
I am planning on doing the same thing. I can not see myself rolling over my TSP into a IRA and letting someone else run or ruin my account. I will set up equal payments also to the age of 80. What kind of travel are you looking at? I am thinking seriously of full-timing my class A for a year or two.
I am planning on doing the same thing. I can not see myself rolling over my TSP into a IRA and letting someone else run or ruin my account. I will set up equal payments also to the age of 80. What kind of travel are you looking at? I am thinking seriously of full-timing my class A for a year or two.
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