Timothy Sumer

Federal employees have a lot of questions when it comes to the TSP annuity. This is different from the FERS annuity and it is important to understand how the TSP annuity works before making a decision to take the annuity.... ( read more ) LEARN MORE ABOUT: Thrift Savings Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Thrift Savings Plan (TSP) Annuity: A Secure Retirement Option Planning for retirement is a significant consideration for every individual, as it sets the stage for financial security during our golden years. One of the retirement options to consider in the United States is the Thrift Savings Plan (TSP) annuity. This annuity offers federal employees and uniformed service members a reliable and secure way to accumulate savings and create a steady stream of income upon retirement. Originally introduced by the Federal Employees’ Retirement System (FERS),

Don't make a HUGE mistake choosing the TSP Default Annuity. There are many things to know that no one is going to tell you. These mistakes can cost you thousands. Protect yourself, your money, your family, and your future. Call (630) 834-3794... ( read more ) LEARN MORE ABOUT: Thrift Savings Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Thrift Savings Plan (TSP) is a retirement savings plan for federal employees and members of the military. It is similar to a 401(k) plan in the private sector. One of the options for receiving retirement benefits from the TSP is through the Retirement Default Annuity, which is a fixed payment made to the retiree on a monthly basis for the rest of their life. While the Retirement Default Annuity may seem like a secure and guaranteed source of income in retirement, it has some drawbacks that retirees need to be aware

The Federal government contracts with an insurer to provide retiring employees with a stream of income for life, called an annuity. An annuity is income insurance. You give the insurance company a lump sum of money at retirement with your TSP balance and the insurer gives you a monthly stream of income for life. If you live to 200 years old, the insurance company is obligated to pay. The insurance company benefits because they keep your annuity contribution once you die. You benefit because you never run out of money. You have the option to do a single life TSP annuity or a Joint Life TSP Annuity. The Single life annuity option pays a stream of income until the annuitant dies. Once the annuitant dies, the money stops. With a joint life annuity, the annuitant and their spouse are guaranteed to receive a stream of income for both their lives. If one spouse dies, the other spouse will continue to receive the annuity until they die. If you have a spouse and want to g