Question
Can I contribute external money from an existing non-TSP IRA account to my existing Roth TSP?
Answer
You can transfer a traditional IRA into your traditional TSP however you can not transfer a Roth IRA into the TSP at all. The only way to transfer after-tax money into the TSP is by transfering an old Roth 401k or Roth 403b into the Roth TSP.
Question
If I retire, I know my spouse is covered with my health insurance, but is my 22 year old still covered until she turns 26 years old?
Answer
Yes, as long as you have a family plan then your child can stay on your plan until they turn 26 even if you are retired.
Question
I’m eligible for retirement and delayed it due to the pandemic. I’d planned to retire to the Philippines (aka: expat) and wondered if keeping my FEHB would even be possible. I do have a VA covered disability, and there’s a clinic in the Philippines for expats, but I wasn’t sure if there were FEHB options that would transfer for those who retire overseas. If that’s an option, would it be prudent to consider changing to one of those coverage options offered to current OCONUS civil service members, or just seek normal coverage options?
Looking forward to viewing more of your content. Great information!
Answer
This is a good question to ask because medicare rarely covers medicare expenses abroad. You will want to make sure that you understand what is covered and what is not covered abroad.
If you are comfortable with the VA care then that may be enough for you. However, there are some FEHB options that are meant for expats. For example, The Foreign Service Benefit Plan has options that are meant for expats.
For those that only travel occasionally abroad then you may consider travel insurance to just cover the time you are away.
