tag:blogger.com,1999:blog-20674128.post859319551548796371..comments2024-03-14T13:50:26.981-04:00Comments on Chaz's School Daze: Our TDA And The Required Minimum Distribution.Chazhttp://www.blogger.com/profile/09964739497720364749noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-20674128.post-9822658576459357282020-04-08T15:12:57.972-04:002020-04-08T15:12:57.972-04:00I know that IRAs are exempt from RMDs this year. H...I know that IRAs are exempt from RMDs this year. How about TDAs?Anonymoushttps://www.blogger.com/profile/06150803730744792477noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-17330706387742206932020-03-13T22:55:14.456-04:002020-03-13T22:55:14.456-04:00wrong! The TDA is treated as a pension and is exe...wrong! The TDA is treated as a pension and is exempt from State and City taxes.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-50462449837536944062020-03-13T22:40:08.679-04:002020-03-13T22:40:08.679-04:00I believe that if you were to annuitize your TDA, ...I believe that if you were to annuitize your TDA, the payments would be fully taxable by the city and state, right?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-91280998931012674932018-02-04T10:31:20.631-05:002018-02-04T10:31:20.631-05:00So what taxes do you pay when you withdraw on your...So what taxes do you pay when you withdraw on your tda before 59.5 years is it better to withdraw from your TDA after 59.5 years of age? <br />Thanks anonymoushttps://www.blogger.com/profile/05775853914041179852noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-72827116557144456422016-12-01T09:32:16.047-05:002016-12-01T09:32:16.047-05:00Is it something as easy as paperwork Is it something as easy as paperwork kennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-15667925083681062122016-10-21T08:11:52.469-04:002016-10-21T08:11:52.469-04:00Curious also gladysCurious also gladyskennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-85280067203410922212016-10-07T03:22:44.812-04:002016-10-07T03:22:44.812-04:00Hello Chaz, How do you go about getting a 7%divide...Hello Chaz, How do you go about getting a 7%dividend as opposed to RMD from your TDA?Gladys Sotomayorhttps://www.blogger.com/profile/05688992742527533886noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-88801406747795434962016-08-16T14:30:52.071-04:002016-08-16T14:30:52.071-04:00Thanks.
I sent you an email.Thanks.<br />I sent you an email.kennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-52065188011188434992016-08-12T18:43:12.836-04:002016-08-12T18:43:12.836-04:00You can find it on my blog.You can find it on my blog.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-2376215343657228242016-08-12T13:14:53.628-04:002016-08-12T13:14:53.628-04:00Chaz
Do you have an email
Address for a personal
Q...Chaz<br />Do you have an email<br />Address for a personal<br />Question I might ask? Thank youkennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-6353919674415090552016-08-06T22:15:23.546-04:002016-08-06T22:15:23.546-04:00That would be your annuity. For example let's...That would be your annuity. For example let's assume you have $325,000 in your TDA. You would receive monthly checks of:<br /><br />$325,000 x 0.0843 / 12 = $2,283 for the rest of your life. However, the $325,000 is no longer yours. I rather get the 7% dividend an get a monthly check of $1,896 and still maintain the $325,000.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-40011623660788618822016-08-06T21:41:25.227-04:002016-08-06T21:41:25.227-04:00when you say at 55 its 8.43% Does that mean 8....when you say at 55 its 8.43% Does that mean 8.43% of the total I have in the TDA? im confused? Thanks You are greatkennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-23437627529251671622016-08-05T21:32:41.620-04:002016-08-05T21:32:41.620-04:00Yes. As for your second question, there is not am...Yes. As for your second question, there is not am annuity calculator but in the Tier III/IV pension handbook the union sells for $9 (a great buy) they list the ASAF annuity calculation by age and I have been told that is what TRS uses when you annuitize your TDA.<br /><br />For example at 55 years of age its 8.43%. at 62 its 9.43$, at 66 its 10.78% and at 70 its 12.59%. However, once you annuitize your TDA, its no longer your money. Instead I would put most of it in the fixed fund where you get a 7% return and just enough (25%)in stocks to offset inflation.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-68629854019697622016-08-04T21:12:15.426-04:002016-08-04T21:12:15.426-04:00I know most pieces of information say you cant tou...I know most pieces of information say you cant touch the TDA until age 59 1/2 but I heard you can take out it penalty free if you fully retire at 55 is that true?<br /><br />Also, is their any annuity calculator that will tell you what your onthly check would be if you anutized your TDA? How do they figure it out if they dont know how long you will live? Thank you<br /><br />9:52 PM Deletekennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-76793547151970347922016-07-28T21:52:21.670-04:002016-07-28T21:52:21.670-04:00I know most pieces of information say you cant tou...I know most pieces of information say you cant touch the TDA until age 59 1/2 but I heard you can take out it penalty free if you fully retire at 55 is that true?<br /><br />Also, is their any annuity calculator that will tell you what your onthly check would be if you anutized your TDA? How do they figure it out if they dont know how long you will live? Thank youkennyhttps://www.blogger.com/profile/07136287420203982338noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-26944010603510208762016-05-08T09:07:14.630-04:002016-05-08T09:07:14.630-04:00There is no lifetime cap, just the maximum amount ...There is no lifetime cap, just the maximum amount you can contribute annually which is $24,000 for 2016.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-13418509078665440102016-05-08T08:09:07.332-04:002016-05-08T08:09:07.332-04:00Hi Chaz,
Is there a lifetime cap or maximum amoun...Hi Chaz,<br /><br />Is there a lifetime cap or maximum amount that a person can have in a 403[b] account? I heard there was one but can't find any evidence for it. I know we have required distributions but wondering if there is a cap on the ultimate size of the account.DOEvethttps://www.blogger.com/profile/02084835745942351587noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-5024121384212587122016-05-02T09:14:00.173-04:002016-05-02T09:14:00.173-04:00Chaz stated, "As long as you are a resident o...Chaz stated, "As long as you are a resident of NYS the entire TDA is exempt from State and Local taxes, not just the first 20k."<br /><br />Wow! I thought we were limited to $20,000 per annual withdrawal even within the TDA.<br />Thanks again for this information.<br />GregAmerican Radio Designhttps://www.blogger.com/profile/13527963112878959110noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-39148111489464440882016-04-30T18:46:33.097-04:002016-04-30T18:46:33.097-04:00Read my post below
http://chaz11.blogspot.com/201...Read my post below<br /><br />http://chaz11.blogspot.com/2015/10/do-all-tier-iv-teachers-get-same.htmlChazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-69082361529115663942016-04-30T17:05:25.227-04:002016-04-30T17:05:25.227-04:00Which tier 4 members get it at 55 if they quit bef...Which tier 4 members get it at 55 if they quit before turning 55 if they have at least ten or more years in?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-73242036959391528432016-04-30T12:38:02.718-04:002016-04-30T12:38:02.718-04:00Actually all Tier I to III and most all Tier IV re...Actually all Tier I to III and most all Tier IV retirees get retiree health insurance after ten years of service and can get it as early as 55 years of age.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-28288539290631182702016-04-30T09:56:18.616-04:002016-04-30T09:56:18.616-04:00You may get "free healthcare" after 15 y...You may get "free healthcare" after 15 years but if you quit after those 15 years you won't get "free healthcare" till you turn over 60. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-16241901119628323922016-04-30T08:29:33.043-04:002016-04-30T08:29:33.043-04:00As long as you are a resident of NYS the entire TD...As long as you are a resident of NYS the entire TDA is exempt from State and Local taxes, not just the first 20k.Chazhttps://www.blogger.com/profile/09964739497720364749noreply@blogger.comtag:blogger.com,1999:blog-20674128.post-5634949153755448622016-04-30T05:40:14.985-04:002016-04-30T05:40:14.985-04:00Are TDA withdrawals always tax free in retirement ...Are TDA withdrawals always tax free in retirement or is it only the first 20K after you turn 59 1/2? or age 70 1/2? Thanks for your good info...I am better prepared for my retirement years because of things I've read on your blog.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20674128.post-90715024971477549512016-04-29T19:22:53.859-04:002016-04-29T19:22:53.859-04:00Chaz,
Thanks for this very helpful information in ...Chaz,<br />Thanks for this very helpful information in regard to our TDA and the required minimum distribution.American Radio Designhttps://www.blogger.com/profile/13527963112878959110noreply@blogger.com