Return to Article: Deferred vs. Postponed

By Tammy Flanagan National Institute of Transition Planning June 29, 2007
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    I have worked for the BLM for over ten years as a term employee. My age is 54. I'm told that there will not be any positions opening. I will not be 55 at my release. What are my options?

    Lewis Mattis Posted March 24, 2008 1:46 PM
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    I was taxed 10% when I withdrew my full TSP savings account, in 2002, when I was 60 years old. Is it true that if a person is over age 55 there should be no tax on TSP withdrawal? If it matters, I was covered under FERS. I'm confused, and could really use your help.

    Grant Nelson Posted August 17, 2007 3:48 AM
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    What about 1811 Criminal Investigators who are FERS employees and have met the 20-year requirement but not the minimum age requirement of age 50? Can that employee deferr his/her retirement benefits until age 50 without receiving a reduced benefit or does that employee have to wait until age 60 like all other FERS employees? I was recently told by a finanical planner who specilizes in the Federal Law Enforcement retirement system that a FERS 1811 employee who left before age 50 would have to wait until age 55 or age 57 to recieve his/her benefits. I think he is wrong.

    Mike Northrup Posted August 5, 2007 8:32 PM
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    I am a little confused. My wife had 8.5 years of service on the Hill before 1987 under CSRS and did receive her contributions back. She then returned to government switched to FERS and had 2.5 years under FERS as a politcal appointee. When the Clinton Administration came in she had to leave. How is her benefit figured. She is 59 now and doesn't plan to retire until she is at least 62. Thought this would be of interest to your readers. thank you.

    charles rogoff Posted July 27, 2007 9:15 AM
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    I'm confused. I thought that you had to be 59&1/2 before you could start withdrawing money from the TSP (without penalty) but saw the age of 55 stated in this article. Could someone please clarify?

    Doug Bourne Posted July 23, 2007 2:05 PM
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    Robert, check out the article, "Gone with the Windfall" on the NITPINC web site. We have all of the govexec retirement planning articles that I've written archived on our web site. You can click on the link on my name.

    Tammy Flanagan Posted July 3, 2007 5:55 PM
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    I have some years in CSRS (SCD 8/77) and switched to FERs effective 1/88. Except for about 2 years since 1/88, I have been a federal employee. I read something on the SSA web site regarding SSA offsets that sounds like I may be squeezed in what I receive in my retirement because I would need to work over, I believe, 19 years paying Social Security taxes before I can reduce offsets to my SSA benefits. Do you have any information on that?

    Robert Degnan Posted June 29, 2007 8:22 AM

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Deferred vs. Postponed
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