| Notes: | In the system configuration (under File/Config/Gap Analysis/Federal Plans), the Client's (and spouse's) Federal Summary tabs may either be disabled (default) or hidden when a federal retirement plan is not selected. |
The "Federal Savings Plan Contributions" allow for entering information about the client's and/or spouse's TSP account. Additionally, the Roth account can be illustrated. The prompts are discussed below.
Contribution Method
Select the method for entering the client's contribution
1.Percent of income, e.g. 5%.
2.Dollar, increase with raise. Contribution value will be entered as a dollar value, e.g. $100, and will increase when the client receives a raise by the same percentage of the clients raise.
3.Dollar, no increases. Contribution will be a constant value and will not increase.
Include Roth Account
Check this box to include a Roth account. Prompts will be displayed both for the pretax and Roth accounts.
The prompts for the Roth and pretax account are identical. They are discussed below.
Accumulation Prompts
Current Balance
Enter the current balance of the TSP account.
Percent of Income or Contribution per Paycheck
Enter the value for the client's contribution to the (Roth or pretax) account.
Rate of Return
Enter the projected rate of return the account will earn until retirement.
Distribution Prompts
Distribution Method
Select the distribution method for the account.
Distribution Rate of Return
Enter the rate of return during retirement.
Percent to Distribute
If the distribution method is Percent Of Account, enter the percent of the account to distribute each year.
Start Distributions
If distributions for the account are to be delayed beyond retirement, select the method for starting distributions.
Start Date, Owner's Age, Years After Retirement
This prompt is be displayed based on the Start Distributions method selected. Enter the starting value value associated with when the distributions are to start.
For additional control over distributions, read the Controlling Distributions entry in the Frequently Asked Questions for the Gap Analysis calculator.
