Thread: How will my TSP monthly payments be taxed by Fed?

it will be taxed as addtional income. You will be liable for taxes at what ever tax bracket you are in. It wont affect your offset. I would recommend to figure out where your tax situation is and take just enough so you dont go into the next tax bracket to maximum the amount you keep after taxes.

I have a question. When you retire, do you receive a single check each
month from the government which includes Pension, Suppliment and TSP
Monies ? Or, do any of them come seperate from one another. I would
think that this is a centalized issuing of a single check for all monies. But
I never asked anyone who is currently retired as federal law enforcement
officer. Thanks in advance.

Originally Posted by squalebear

I have a question. When you retire, do you receive a single check each
month from the government which includes Pension, Suppliment and TSP
Monies ? Or, do any of them come seperate from one another. I would
think that this is a centalized issuing of a single check for all monies. But
I never asked anyone who is currently retired as federal law enforcement
officer. Thanks in advance.

Unless law enforcement is different than most FERS, you'll get separate checks. And they don't come on the same date either. My annuity (pension) and TSP checks are deposited into my account almost 2 weeks apart.

Lady

Originally Posted by XL-entLady

Unless law enforcement is different than most FERS, you'll get separate checks. And they don't come on the same date either. My annuity (pension) and TSP checks are deposited into my account almost 2 weeks apart. Lady

Wow, how interesting is that ! Thanks Lady, good to hear from ya !
Anyone else thats has a similar or different experience to share, please
do for all our members.

Ok, listen to this. My best friend and I are military retirees......my friend retired from FERS last Dec. 07 and this is what he briefed me on concerning retirement checks. He stated, "my FERS pension check, my TSP, my Socical Security and my military pension all come in at different times of the month.

Originally Posted by Zebra

Ok, listen to this. My best friend and I are military retirees......my friend retired from FERS last Dec. 07 and this is what he briefed me on concerning retirement checks. He stated, "my FERS pension check, my TSP, my Socical Security and my military pension all come in at different times of the month.

I believe thats accurate. I am not military, however, I believe when I retire
I'll get ----> FERS Check (including Suppliment)
----------->TSP Check
-----------> Social Security Check

ALL AT DIFFERENT TIMES OF THE MONTH
direct deposit is the way to go !

Originally Posted by squalebear

direct deposit is the way to go !

Absolutely.....you don't want to waste all that gas hauling those checks to the bank!

But DD won't give you a good excuse to get out of the house and stop by the tavern occasion14.gif

Originally Posted by Gumby

But DD won't give you a good excuse to get out of the house and stop by the tavern

Only if that's where you make the DD.

Originally Posted by Frixxxx

Only if that's where you make the DD.

I hadn't thought of that....just get their routing number and you can get your tab paid electronically.

And remember the more you take the higher your total tax bracket. You can prolong your application for social security and won't have to do required minimum distribution from TSP until you are 701/2. You can't hide a military pension - it will arrive regardless. And if Obama gets elected he'll have both his hands in your pockets using your money to distribute food stamps to the less fortunate - unless you don't mind playing great Uncle to the 70% of out of wedlock children you will be supporting because 56% of those households don't have a dad around to help with the dishes.

Do disabled veterans loose their disability retirement when they retire from a Federal agency or The Post Office?