Tying up your TSP loose ends

If you’ve been maxing out your TSP investments before, during and since the Great Recession of 2008-09, it’s time for a pat on the back. Despite many ups and downs, it’s been over 10 years since the stock market has had a major—20% or more correction—although we came very, very close just before Christmas 2018. For the 12-month period ending in November, the G-fund return is 2.34%, the F-fund is 10.76%, C-fund at 16.09%; S-fund at 11.87% and the I-fund at 12.91%.

For a lookback at the performance of the TSP funds, click here.

Monday’s above-the-fold paper edition of the Washington Post talked about recession fears fading. This despite, and in some cases because of, world events from the British elections and Brexit to trade negotiations with China and dire warnings, again, from North Korea. December has a little while to go and anything could happen.

Meantime, December is an important month for many TSP investors, both for taxes and scheduling purposes. Here are important dates from the TSP Year-end transaction processing schedule:

Advertisement

Year-end transaction processing schedule — (December 2, 2019) The TSP processing schedule for the end of 2019 is shown below and includes information about when transactions (including withdrawals and installment payments) will be processed, as well as when the TSP will be closed during the holiday season.

  • December 16 — TSP installment payments that are normally scheduled to be processed between December 16 and December 31 will be processed on December 16. For income tax purposes, these payments will be reported to the Internal Revenue Service (IRS) as income for 2019.
  • December 17 — Any residual 2019 required minimum distribution (RMD) amounts for beneficiary participants will be processed on December 17. For income tax purposes, these payments will be reported to the IRS as income for 2019.
  • December 18 — Any residual 2019 required minimum distribution (RMD) amounts for civilian and uniformed services participants will be processed on December 18. For income tax purposes, these payments will be reported to the IRS as income for 2019.
  • December 25 — Because Wednesday December 25 is a federal holiday, the TSP will be closed. Transactions that would have been processed Wednesday night (December 25) will be processed Thursday night (December 26) at Thursday’s closing share prices.
  • December 27 — Withdrawals processed through December 27 will be disbursed and reported to the IRS as income for 2019.
  • December 30 — Withdrawals processed on December 30 will be reported to the IRS as income for 2020. The payments (checks and direct deposits) are expected to be issued on January 2, 2020.
  • December 31 — Withdrawals processed on December 31 will be reported to the IRS as income for 2020. The payments (checks and direct deposits) are expected to be issued on January 3, 2020.
  • January 1, 2020 — Because January 1 is a federal holiday, the TSP will be closed. Transactions that would have been processed Wednesday night (January 1) will be processed Thursday night (January 2) at Thursday’s closing share prices.

Nearly Useless Factoid

By Alazar Moges

Space is filled with countless dying stars floating around. Most people would have no idea what to guess if they were asked what space smells like — but because of all the dying stars, space has a distinct scent that has been described as a mix of hot metal. diesel fumes and barbecue.

Source: Popular Science 

Copyright © 2020 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.