jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Can anyone help me find a calculator or worksheet for this?
Please resist the urge to post how awful it is to consider this option.....
This is NOT the basic DB pension/annuity that Feds get under FERS or CSRS.
There is an option to use funds from the Thift Savings Plan (e.g. 401k) to buy a SPIA from Metlife. I found the current "index rate" used for the payment calculation which is rising so I am trying to re-learn the details of this option. I think it is a very mis-understood benefit for Feds. (Nearly everyone in my family is a Fed employee and no one has a clue). I finally found a payment estimator on the awful redesigned TSP website but it's not working and I can't even find an old fashioned worksheet to pencil it out.
I am also wondering if this would help with RMDs.
Please resist the urge to post how awful it is to consider this option.....
This is NOT the basic DB pension/annuity that Feds get under FERS or CSRS.
There is an option to use funds from the Thift Savings Plan (e.g. 401k) to buy a SPIA from Metlife. I found the current "index rate" used for the payment calculation which is rising so I am trying to re-learn the details of this option. I think it is a very mis-understood benefit for Feds. (Nearly everyone in my family is a Fed employee and no one has a clue). I finally found a payment estimator on the awful redesigned TSP website but it's not working and I can't even find an old fashioned worksheet to pencil it out.
I am also wondering if this would help with RMDs.