GovernmentExecutive.com

Return to Article: Survivor Savings

• 28797
  

  These blogs are good, but let's stop preaching to the choir. Who has contacted his elected representatives?

  Richard Barbieri Posted July 19, 2007 7:53 AM
• 26089
  

  Why do I work? For my spouse. Who supported me during my career? My spouse. Let her keep the money in TSP please.

  Lance Taylor Posted June 20, 2007 6:51 AM
• 25918
  

  I wholeheartedly support the proposal, and agree with tip off that "This is an issue that should be put before the participants to decide; with possibly input and, guidance from the concerned special interest groups." I don't believe that the unions should have any say at all in this matter.

  terry ford Posted June 18, 2007 11:37 AM
• 25750
  

  (2nd Trans, edited)

  I became a union convert due to NSPS. And now I hear the president of the NFFE is trying to block something I want? Once more, I can now understand the growing frustration of a teen whose parents simply will not listen; "It's our money!"

  This is an issue that should be put before the participants to decide; with possibly input and, guidance from the concerned special interest groups. Still, not all TSP members are union members; and my union or others should dictate to all TSP participants.

  IMHO, I believe the civil servant who participates in the TSP does so with forethought and deliberation; despite much commercial competition. They, evidently, weighed the benefits and chose this vehicle. I'm quite sure that they would like that option open to their beneficiaries. If approved, another (follow-on) option could be a one time roll-over by spouses upon a trigger event (death/inheritance); allowing the combining of other retirement funds and vehicles into the TSP. This would grow the TSP, which seems a priority of the board.

  This stuff gets complicated. The TSP is an effective, cost-efficient, and relatively easy way to handle your retirement funds; and I would like my spouse to have one less hassle upon my demise. Part of this could even be "sold" to Congress as supporting our troops. Their wives and families now have a vested interest in the TSP.

  Bottom line? All this SHOULD be contingent solely on two factors; the cost to implement and support it and the TSP participants' desires. And, pray tell me, how do all the folks making these decisions even know what those desires are?

  Have YOU been asked your opinion lately?

  Tip off Posted June 15, 2007 1:58 PM
• 25638
  

  People save for themselves AND their spouses. Sure it would be ideal to die in bed together at 120, but that is not reality. Why should only the employee be shielded from the "financial sharks"? The proposal is a no-brainer. It should be a priority!

  Many never use a public library. Does that mean your taxes should not be used to support libraries. Stop being so selfish and see the greater good for the greater number.

  Joel L. Frank Posted June 14, 2007 12:45 PM
• 25619
  

  My wife and I both work for same federal agency and believe the option to roll the tsp into the surviving spouse's account should be an option for couples that are both federal employee's. Please consider supporting this initiative because there are quite a few federal couples this would affect. Thank You!

  Will Rogers Posted June 14, 2007 10:42 AM
• 25612
  

  How hard can this be? The banking information is already in place, the address will probably stay the same. The survior benefit has already been designated. All that would be needed would be a name change and a death certificate.

  VIRGINIA K. JOSEPH Posted June 14, 2007 9:46 AM
• 25611
  

  Both my wife & I have TSP accounts. She retired two years ago & I will retire in July. When something were to happen to one of us could the survior roll the deceased's account into their's?

  Robert Key Posted June 14, 2007 9:42 AM
• 25602
  

  Mr. Strombotne should also consider supporting a proposal to allow a surviving Federal employee spouse beneficiary to roll over the TSP amount into their own TSP account. There are many couples where the husband and wife are both Federal employees with TSP accounts.

  David MacPherson Posted June 14, 2007 8:45 AM
• 25593
  

  I strongly support a proposal to allow surviving spouses to leave savings in the Plan. What we're talking about here is CHOICE. Not every surviving spouse will elect this option. As to the argument that such an option would drive up administrative costs for everybody, I'm willing to pay those additional costs, especially since they're so reasonable to begin with! Perhaps there might even be a way that participants, who wish to maintain the current level of fees, could "opt out" of any "surviving-spouse" option, and thus pay lower administrative fees on their accounts. Either way, please move forward with this innovative proposal.

  Bill Ashley Posted June 14, 2007 8:09 AM
• 25585
  

  Why would the union be involved in how we handle our money (i.e. TSP)? It's not that we are making the surviving spouse leave their money in TSP! just another option for them to choose! If administrative cost is the issue, then maybe charge a little extra to those surviving spouse who choose to leave the inheritance in the TSP!

  Dominga Skaruppa Posted June 14, 2007 6:27 AM