The Thrift Savings Plan (TSP) is an investment and retirement plan available to federal employees, the Ready Reserve and military personnel. The TSP is a contribution plan, which means that the amount of funds available in the account depends highly on t
Howtomakethemostofyourpaycheck Written byChris Martin |April 1, 2025 Your pay in the military is fixed by your rank and time in grade. That’s part of the appeal of the service. Making that paycheck stretch is something many struggle with, especially as they are starting out. There are ...
How Long Does It Take the VA to Process My Claim? What to Do if Your VA Disability Claim is Denied Top VA Disability Claims Common Mistakes to Avoid When Filing a VA Disability Claim Former military members who incurred injuries that prevent them from performing at their best have a contra...
Spouses may also be entitled to other military retirement benefits outside of retirement pay. For example, the MilitaryThrift Savings Plan (TSP)is a divisible asset in divorce, just like civilian retirement accounts. A court order will specify the division, either as a percentage or a fixed amo...
How To Calculate Early Military Retirement Pay To calculate retirement pay under TERA, find the retirement system you’re enrolled in anduse the applicable retirement formula. For this example, we’ll use the High-36 retirement plan, which has a basic calculation of: ...
For example, recently, I had two clients who intended to roll their old retirement plans into a Roth IRA.One client had an old military retirement plan- Thrift Savings Plan (TSP) – and the other had an old state retirement plan. After helping each of them complete the required paperwork,...
Let’s say, after deductions, a military couple expects their taxable income to exceed the phase-out limit for the American Opportunity Tax Credit (AOTC) by about $11,000. If they chose to put $11,000 of their income into a traditional (pre-tax) TSP account, they could lower their tax...
Why not sign up to follow my blog? anneethompson.com *** Share this: As you know (if you follow my blog) I help with a senior’s lunch every week, and as we only have two cooks, I have to cook on alternate weeks. There are usually some disasters (not always my fault). I tho...
I added a bit of milk with the cream as my frosting needed loosening. I also added a 1/4 tsp. of vanilla paste. This recipe yields so much frosting that you can store most of it for any upcoming baking. This recipe is from Sally’s Baking Addiction. Share this: Share Like this...
For example, the pension paid to a retired member of the U.S. military has a survivor benefit that will cease if the spouse of the deceased service member remarries before age 55. A spouse who divorces a service member receiving a pension should run the numbers to compare a life insurance...