Pensions

1. Questioner: Steve

   Question: I have a PSP plan and I have a loan against this. I'm retired from this company but working again for another company. Can I move this to another vehicle and take this loan as income. Can I roll it to another like plan and add to it and what is the max I can add to it. View Answer

2. Questioner: DJ

   Question: I've read that if one would like to retire early they should save at least 20% of their salary. I'm 27 yrs old, although I dont think that I'll retire early I want to make certain that I have enough to vacation in my retirement years. Also with today's market my TSP 100% invested in the Lifecycle 2040 plan, and I have lost a few thousand dollars over the last few weeks. May I ask what you think I should have selected for a good retirement mix? Is this good for the long term... or (hopefully) short term to protect against losses? I also have a Roth IRA in USISX. Is this a decent mutual fund or should I find another no load fund? View Answer

3. Questioner: Marie

   Question: In a target-benefit plan, what determines the amount of retirement benefit a participant will receive? View Answer

4. Questioner: Megan

   Question: I changed jobs a few weeks ago and recently received paperwork from my former employer giving me the option of taking a lump sum payment of my pension or rolling it into a traditional IRA. I was at that job for 9 years and the payout would be only about $1,800. I'm wondering if it is worth it to put that money into an IRA, or should I accept the lump sum payment, which I could use to pay off tuition and some other bills. I still have my 401k, which I will be rolling over to my new job's plan as soon as I'm eligible. View Answer

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