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How To Choose a Thrift Savings Plan Fund?

Updated: 9/17/2019
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Q: How To Choose a Thrift Savings Plan Fund?
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What is the meaning of a thrift savings plan?

A plan which is more economical and reduce splurging your money, a plan which require less investment of funds. Was that information useful, please let me know.


Is Thrift Savings Plan protected under bankruptcy?

No..


Where are the headquarters of Thrift Savings?

The Headquarters of Thrift Savings is in Washington USA - It is a government run savings plan for government employees including armed forces personnel


What is the difference between the Thrift Savings Plan and FERS?

FERS is a retirement system that includes both a small defined benefit plan and a defined contribution plan. The Thrift Savings Plan is the defined contribution plan used in FERS.


Who is the thrift savings plan designed for?

In order to be eligible for he Thrift Savings Plan, you have to be a full time employee of the federal government. Beneficiaries can take over the account if one family member passes away and their share is over $200.


What is required to set up a thrift savings plan?

You must obtain consent from your spouse. And if you are married they will contat your spouse about the thrift savings plan. If you end up getting a divorce and try to take some of the money , your spouse will also be contact for approval.


Can you claim an investment loss on my thrift savings plan?

No. You already got a write off, in advance, for the whole amount you put into the TSP. You can't have a second one.


Why would you need a college bound fund?

A CollegeBoundfund is a Section 529 savings plan. A 529 plan is designed to enable people to save specifically for the college fees of a designated person.


How does a 529 savings account help my family?

A 529 Plan saves money for college tuition and is there is tax advantages for enrolling in this plan. It encourages family to save for their children's college fund.


How do you avoiding Thrift Savings Plan loans being reported as taxable income?

Your best course of action is to speak to an accountant. There is a huge difference, legally, between tax avoidance and tax evasion.


Which of the following are advantages to Service members who participate in the Blended Retirement System with respect to the Thrift Savings Plan?

Government-automatic [1%] contributions and Government-matching contributions up to an additional 4% of basic pay


Which education savings plan can be used for K through 12 expenses as well as post-secondary expenses?

Coverdell Education Savings Plan!