Investing after service?

[stangia254]

I'm new at the TSP game and I had a quick question that someone might be able to answer for me. Can you still put money into TSP after you get out of the military after 20yrs?

 

[Show-me]

No, I can only be done through payroll deduction and you have to be on the rolls. Welcome to the message board and best of luck.

 

[stangia254]

Ok, so the only way for me to continue contributing is to get a government job after the military. Well at least I got 16 years to look for one. Thanks for the welcome.

 

[Show-me]

You don't have to get a government job unless you want to. lol Many companies have 401k which is similar thing as TSP or you can open a Traditional IRA with a brokerage account.

Many companies are actively looking for prior military folks and they have nice benefits. Burlington Northern Santa Fe is one that has really ramped up military recruiting.

http://www.bnsf.com/careers/jobs.html

Also the USPS allows vets to take the entrance exam and you get extra points for being a vet (5 points) or a disabled vet (10 points). Disabled vets get hired first regardless of score for some jobs and then you can move around once you are in the system through promotion. Getting IN is the first step.

I'm not recommend anyone work for the USPS, but you can transfer from the USPS to other agencies.

If any vets need some tips, give me a pm or hit me up on my account talk.

 

[stangia254]

Ok, sorry I'm slow to pick this up. Just so I have this all right. After I retire I can no longer invest in my TSP account, say I set up the L2040, unless I have a government job. But I can transfer my TSP to an IRA? Just so I don't waste anymore of your time is there a FAQ about this stuff anywhere. Thanks

 

[Show-me]

Your not wasting any time and you are correct. If you are not longer employed by the government, civilian or military, you can not continue to contribute to TSP. You can leave you account as it is and continue to invest it or roll it into a IRA.

 

[Show-me]

Call TSP.gov or try the site and waid throught the endless information.

http://www.tsp.gov/index.html

Telephone:​

1-TSP-YOU-FRST (1-877-968-3778)TDD: 1-TSP-THRIFT5 (1-877-847-4385)
(for hearing-impaired participants)

 

[James48843]

Ok, so the only way for me to continue contributing is to get a government job after the military. Well at least I got 16 years to look for one. Thanks for the welcome.

Thanks for your service. And Welcome Home.

If you get settled, and want to start thinking about your next career, why not post a little about your background, and what you think your dream job would be. Perhaps we can offer some suggestions to point you in the right direction for a federal job somewhere where your talents can shine.

What kinds of things do you like to do?

 

[vol46]

You don't have to get a government job unless you want to. lol Many companies have 401k which is similar thing as TSP or you can open a Traditional IRA with a brokerage account.

Many companies are actively looking for prior military folks and they have nice benefits. Burlington Northern Santa Fe is one that has really ramped up military recruiting.

http://www.bnsf.com/careers/jobs.html

Also the USPS allows vets to take the entrance exam and you get extra points for being a vet (5 points) or a disabled vet (10 points). Disabled vets get hired first regardless of score for some jobs and then you can move around once you are in the system through promotion. Getting IN is the first step.

I'm not recommend anyone work for the USPS, but you can transfer from the USPS to other agencies.

If any vets need some tips, give me a pm or hit me up on my account talk.

I believe the PO stopped giving the 5 points back in the 80's. Not sure about the 10 points for disabled vets. I'm sure someone will correct me if I'm wrong. Seems like the ppl up in congress didn't like the fact the vets were getting preferential treatment. Later, vol46

 

[Rod]

I'm in the military, and my plans are to keep my TSP after I retire so I can "play" with it until I'm an old fart... hey wait, I am an old fart!:laugh:

 

[James48843]

War time vets get 5 point preference if they have a campaign participation medal. (were in the war zone), or were on active duty for 180 days or more since Sept. 11th. (Note to reservists- if you are put on orders for 179 days, figure out a way to stay an extra day. Do whatever it takes, as the benefit from being a 180 plus veteran is a lot more than being a 179 day veteran).


And disabled vets do get 10 point preference.

Here is the link to all the Veteran's competitive service point preference programs, for more information:
http://opm.gov/veterans/

You still have to be found qualified for the job. However, those with vets preference, when all else is equal, is a leg up in getting the job.

 

[Show-me]

James is correct, I was hired in 2001 as a 5 point vet and all USPS custodial jobs are reserved for 10 point vets.

War time vets get 5 point preference if they have a campaign participation medal. (were in the war zone), or were on active duty for 180 days or more since Sept. 11th. (Note to reservists- if you are put on orders for 179 days, figure out a way to stay an extra day. Do whatever it takes, as the benefit from being a 180 plus veteran is a lot more than being a 179 day veteran).


And disabled vets do get 10 point preference.

Here is the link to all the Veteran's competitive service point preference programs, for more information:
http://opm.gov/veterans/

You still have to be found qualified for the job. However, those with vets preference, when all else is equal, is a leg up in getting the job.

 

[Callme_CO]

The BOP is hiring like crazy and like vets.