FRTIB Proposes Simplifying TSP Catch-Up Contribution Process
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I had considered most aspects noted in that article, but one caught me unawares. subject of beneficiaries. My sibling and/or siblings' kids would get a large unexpected tax burden dumped on them if I still have a fair amount remaining in tsp at the time I go. Which means I will be thinking hard, very hard, about how much I want to risk leaving in tsp as I continue to get older post-retirement, :suspicious:, which will be here before I know it.
Counterbalance-TSP is not subject to lawsuits and etc, IRA is. Article left out that upside to tsp. Not that I expect to get sued for anything, but ya never know....:hmmm:
Might be better to give the kids GPS coordinates to a few mason jars buried in the back yard.
I was thinkin same thing Alevin. Dang...maybe pull out more than needed...or measure how much to draw each year before hitting the next tax band.
RR,The Mason jar idea I not bad! lol... gold, silver.....robinhood account?
Does anyone think this will go anywhere?
https://www.fedsmith.com/2020/05/20/group-calls-20-pay-cut-all-federal-employees/
Never mind my rant. It was my mistake in calculation. :embarrest:
I have more problems getting the data to line up these days with the new format of the TSP web site.
Speaking of changes to the TSP web site, did anybody else receive this notice:
Quote:
Easier login and more security for My Account
You may notice some changes to your My Account login this fall. As a stronger layer of security against fraud [ https://www.tsp.gov/account-basics/p...ce=govdelivery ], all TSP participants will need to log in with a user ID and use a phone number for two-step authentication and other online requests.
*Youll see these changes in My Account by late October.* If you already created a user ID and validated a personal phone number in My Account, you wont need to make any changes. Otherwise, youll see prompts for the steps you need to take when you log in to My Account.
User IDs for all TSP participants
*You must create a user ID for logging in to My Account. *This helps protect your account number. You can create a user ID thats easy for you to remember. If you do forget your user ID, youll be able to retrieve it online. And you can always create a new user ID in your My Account profile settings.
Add and validate a phone number
*You must add and validate a personal phone number in My Account. *This adds a stronger layer of security to your account. When you log in and request certain account transactions, youll choose to receive a one-time verification code by phone call or by text message. Youll then see a prompt to enter that code in your internet browser to verify your identity before you can access your account or continue with your transaction.
You will no longer be able to use a validated email address to receive verification codes. You should *keep a personal email address on your TSP account* to continue receiving important TSP information that may affect your account.
Surely that's a misprint. Two-factor authentication has been enforced for a while now. They also give you the option of using an e-mail address instead of a phone number, but users complain that the e-mail option is often very slow. Using the text method to your telephone should be very quick. Lots of services are requiring log-ins like this these days. It's more trouble, but I suppose it keeps us from having to change passwords so often. Though, I can't recall the last time, if ever, I was prompted to change my TSP password.