Reply to Tell me how much you have saved in your 401K at age 40.

Forum Index » Money and Finances

Reply to "Tell me how much you have saved in your 401K at age 40."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Sorry PP here-- I googled and I think I answered my question above.  There is both TSP and FERS, but you only get access to FERS if you stay in federal service until a minimum age like 60.  So if you leave federal service before that age, you don't get that pension-- but you do get to take your TSP.  Please correct me if I have that wrong.[/quote]

You're wrong - you don't get the full benefit of the pension if you leave federal service before the minimum retirement age, but you still have access to FERS under "Deferred retirement":

Deferred Retirement
Refers to delayed payment of benefit until criteria are met, as follows:
If you leave Federal service before you meet the age and service requirements for an immediate retirement benefit, you may be eligible for deferred retirement benefits. To be eligible, you must have completed at least 5 years of creditable civilian service. You may receive benefits when you reach eligible age.

https://www.opm.gov/retirement-services/fers-information/eligibility/
[/quote]

Wow-- that is great to know!  Thanks!  
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics