Switching TSP accounts and continuing to contribute

[PessOptimist]

Have any of you here retired from the military side of the house, and then grab a tech job or something similar so that you can transfer your TSP to that TSP account?

If it has employee matching, does that change how much you contribute? (If there is a max amount of $17500, will the employee match to tha amount or for our full $17500 that you put in there)

I'm curious how it's working out for anyone here, as I see that as another 15+ years I can contribute to TSP after my retirement while I'm waiting for my wife to retire.

Interesting questions.

I can't answer the first one because there was no military TSP when I retired in 96.

I know a couple people I work with were ANG while employed as fed civilians. I believe they had two separate TSP accounts. All have now retired from the Guard. I will try to remember to ask one of them what if any options they had for TSP at retirement from the Guard. I think I have seen this subject somewhere here on TSPTalk too. Maybe someone will answer.

I sense some confusion in the answers so far. If you do get hired by a federal agency after you retire from the military I believe a second TSP account will be created for you.

You are asking if you will be able to transfer your military TSP balance in to your new civilian TSP account, correct?

Employer matching funds:

Your new employing agency will contribute 1% of your base salary to your TSP account even if you stop your personal contributions to the account. (personal contributions are started automatically-see below)

If you contribute 3% of your base, which I believe automatically happens now, your agency will match the 3% dollar for dollar on top of the 1% above. Total matching is 4%.

If you contribute 4% of your base, matching is 4.5%. If you contribute 5% matching is 5%. If you contribute 6% or more, the agency matches 5%. I wish they would match the whole $16.5k plus my catch up. Another rumor bites the dust!

You can contribute either a % or $ amount.

Other than that it's pretty much the same as the TSP you have now. The other major difference is tax free pay you receive when eligible. TSP is keeping track of that for you.

https://www.tsp.gov/planparticipation/eligibility/typesOfContributions.shtml has more info and a chart which explains it better.

You can find out more about fed retirement as it exists for new hires and old hires and really old CSRS LOBs at FERS Information.

I hope this helps with your questions.

PO

 

[ILoveTDs]

17,500 doesn't include matching

 

[Frixxxx]

Have any of you here retired from the military side of the house, and then grab a tech job or something similar so that you can transfer your TSP to that TSP account?

As long as you are in a federal job or "pay status" you can contribute into TSP through payroll deductions.

If it has employee matching, does that change how much you contribute? (If there is a max amount of $17500, will the employee match to tha amount or for our full $17500 that you put in there)

I'm curious how it's working out for anyone here, as I see that as another 15+ years I can contribute to TSP after my retirement while I'm waiting for my wife to retire.

As long as you have money in TSP, you can withdrawal and make IFTs. You can always transfer into TSP from other qualified accounts.

Hope that helps!

 

[EricDeLee]

When I mention transfer the tsp... I meant into one of the tech or GS employee TSPs, not a different organization's 401k.

 

[EricDeLee]

Have any of you here retired from the military side of the house, and then grab a tech job or something similar so that you can transfer your TSP to that TSP account?

If it has employee matching, does that change how much you contribute? (If there is a max amount of $17500, will the employee match to tha amount or for our full $17500 that you put in there)

I'm curious how it's working out for anyone here, as I see that as another 15+ years I can contribute to TSP after my retirement while I'm waiting for my wife to retire.