March 28, 2016
This week on For Your Benefit, join our hosts, Bob Leins and Tammy Flanagan as they welcome Greg Long, Executive Director, and Kim Weaver, Director of External Affairs, of the Federal Retirement Thrift Investment Board to the studio.
Today’s discussion will focus on answering the following questions:
What are the possibilities of having more flexibility with withdrawals in the future (pro-rata distributions, changing monthly payment amounts more frequently, multiple partial withdrawals)?
- What is the relationship of the federal employee’s participation in the TSP to the uniformed services and the possible addition of private sector employees (moving money between accounts, combining accounts, beneficiary designations to someone else's TSP account)?
- What are the primary issues that participants face when withdrawing from the TSP? What can cause a delay? What do participants need to know about the transition from employee to retiree or from employee to a job in the private sector?
- Stats: How many millionaires? Average account balances? Any statistics that show trends (moving from TSP to IRA or how many take monthly payments vs annuities)? How big is the TSP compared to other large employer sponsored retirement plans?
- Are there any changes in administrative expenses?
- Security measures: Any issues that employees should be aware of in regard to safeguarding their TSP accounts?
- Is there any new information regarding beneficiary participants/beneficiary designations?
- Overview of the changes regarding public safety officers
- Overview of the conditions for matching contributions for uniformed services participants
- What prompted the change to the lifecycle distribution allocations?
Tune in, this is a show that you won’t want to miss! For questions or comments, email us in advance at ForYourBenefit@nitpinc.com or call in, once the phone lines are open, to 202-465-3080.