Federal Employee Benefits TV Series Part 11 Topic: What is a TSP Hosted by Les Robinson

AMHERST, N.Y. - Nov. 5, 2018 - PRLog -- The ABC's of Insurance present the Federal Employee Benefits TV Series: Hosted by Les Robinson CLTC

Part 11 What is a TSP  : Air Date November 12 , 2018.

Topic:

The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans and Roth Plans. By participating in the TSP, Federal employees have the opportunity to save part of their income for retirement, receive matching agency contributions, and reduce their current taxes.

G Fund

The G Fund assets are managed internally by the Federal Retirement Thrift Investment Board. The G Fund buys a nonmarketable U.S. Treasury security that is guaranteed by the U.S. Government. This means that the G Fund will not lose money.

F,C,S, and I Funds

The Federal Retirement Thrift Investment Board currently contracts BlackRock Institutional Trust Company, N.A. (BlackRock) to manage the F, C, S, and I Fund assets. The F and C Fund assets are held in separate accounts (https://www.tsp.gov/sitehelp/glossary/glossary.html?term=...).

The F, C, S, and I Funds are index funds (https://www.tsp.gov/sitehelp/glossary/glossary.html?term=...), each of which is invested in order to replicate the risk and return characteristics of its appropriate benchmark index. For example, the C Fund is invested in a stock index fund that fully replicates the Standard and Poor's 500 (S&P 500) Index, a broad market index made up of the stocks of 500 large to medium-sized U.S. companies. The C Fund's objective is to match the performance of the S&P 500. The F, C, S, and I Funds remain invested regardless of the performance of the securities markets or the overall economy.

L Funds

The L Funds are invested in the five individual TSP funds based on professionally determined asset allocations.

Withdrawing money from the Thrift Savings Plan (TSP)

It may take up to eight weeks to process a withdrawal after all properly completed withdrawal forms and separation data have been received by the TSP Service Office. Further, the TSP Service Office cannot process a withdrawal election until they receive an Employee Data Record from your payroll office indicating that you have separated. An unpaid TSP loan may delay disbursement of the TSP account balance.

Your employer will provide you with information about your withdrawal options and the option to keep your money in the TSP. If you choose not to withdraw your funds, in the event of your death the TSP Service Office would pay the funds based on your written designation form on file. If you have not completed a designation form, payment would be made to your survivors as follows:

• Widow or widower.
• If none of the above, child or children and descendants of deceased children by representation.
• If none of the above, retiree's parents or to the surviving parent.
• If none of the above, the executor or administrator of the retiree's estate.
• If none of the above, to any other of the retiree's next of kin who is entitled under the laws of the state in which the retiree resided at death.

The award winning "The ABC's of Insurance" has a new channel and time

The channel is 1301 on Spectrum Cable in Western New York

The time is Mondays at 12:30 pm

The award winning "The ABC's of Insurance" has been on TV since November of 1997.  The TV show has been designed to be educational on insurance topics.  Helping people to understand insurance and to ask the correct questions.

The show has done a variety of different topics including

·         Home Insurance

·         Auto Insurance

·         Boat Insurance

·         Long Term Care Insurance

·         A Real Estate series

·         A Health series

·         A Long-Term Care series

·         Prevent your money going to Medicaid

·         Life Insurance

·         LesLTC Process

·         Long Term Care Insurance

·         Plus, many more TV shows

Go to  http://www.wnyinsurance-quote.com/tv_shows/tv_shows.html  to see a list of past TV shows

Upcoming TV shows of 2018

·         How to Protect your money from Medicaid

·         Fall Prevention

·         Avoid Probate Series coming in Spring of 2019

·         Federal Employee Benefit Series

·         Common Mistakes

If you have a topic you want to see on "The ABC's of Insurance" email Les at Les@lesltc.com and in the subject line put TV show topic ideas