Suggestions

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Add investment type TSP (Thrift Savings Plan)

If you’ve never worked for the US federal government you might not be familiar with it, but the TSP has over 6 million current and former federal employees in it. It has its own rules for RMD, contribution limits, etc. — it’s not quite a 457b, 403b, 401k, or IRA, but pretty similar.

Related: en.wikipedia.org/wiki/Thrift_Savings_Plan

7 votes

Tagged as Suggestion

Suggested 05 August 2022 by user Aaron S

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  • 05 August 2022 Aaron S suggested this task

  • 05 August 2022 Kyle Nolan approved this task

  • avatar

    TSP is exactly like a 401k and in fact is a 401k. Same rules apply. No need for a separate item in PL for it.

    08 November 2022
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    One way this is different from standard 401k’s is that TSP contributors have the ability to contribute Tax Exempt contributions into the Traditional TSP while deployed to combat zones. In that way, those contributions are able to be withdrawn tax-free; however, earnings attributed to them are taxable at withdrawal. That is referenced in the wikipedia reference that Aaron S. posted in the original suggestion.

    22 February 2023
  • avatar

    For now you could handle this as close as possible by splitting your their TSP into multiple “accounts” in PL for each combination you have of regular vs combat excluded contributions, and Roth vs pre-tax. And then tweak the basis and taxation accordingly to get close enough.

    18 September 2023