WebJun 27, 2024 · When you transfer your TSP to an IRA, you are now under IRA rules. And the penalty free withdrawal age in an IRA is 59 1/2. So, if you’re an SCE, and retire at age 50, think twice before transferring money into an IRA that you can’t get out before 59 1/2. WebThe best way (in my experience) to make the transfer is by first moving your money to a traditional IRA and then over to a Roth IRA. This process is shown in the picture below. As the chart shows, when you move money from the traditional TSP to Traditional IRA no taxes are due no matter how much you transfer. However, anything you then move to ...
TSP Interfund Transfers- A Surprisingly Useful Tool for Balancing ...
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How to Roll Over a Roth Thrift Savings Plan (TSP) to a Roth IRA
WebApr 6, 2024 · The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. It was established by Congress in the Federal Employees’ Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer … WebMar 11, 2024 · Move money into the TSP. You can roll over money from eligible retirement plans, such as a 401(k), 403(b), or traditional IRA, to your existing TSP account. There are multiple advantages to rollover contributions to the TSP, and you can use this option even … WebApr 23, 2024 · Option #1 – The TSP Annuity. The TSP annuity is different than the FERS Annuity—completely different, in fact. A TSP annuity involves turning the money in your TSP over to an insurance company (Met Life) in return for a guaranteed payment for the rest of your life. There are many different combinations of an immediate annuity such as: Life ... razertip sl1 wood burner