mavii

direct rollover) – Money moves directly from one account or retirement plan to the other • Rollover (aka . 60-day. or . indirect rollover) – You must complete the transaction within 60 days – May result in taxes, withholdings, and/or penalties if not properly executed . See instructions on Forms TSP-60 and/or TSP -60-R for more information

the rollover of a TSP participant’s account based on the IRC’s description of the TSP. Is the TSP subject to all of the rules applicable to a qualified trust? ... such as a section 401(k) plan, profit-sharing plan, defined benefit plan, stock bonus plan, and money purchase plan; a section 403(a) annuity plan; a section

To roll money into the Thrift Savings Plan, you would use form TSP 60 for rollovers into your traditional balance and form TSP 60-R for rollovers into your Roth balance.

The average 401(k) participant has 9.9 employers over the course of his or her working career. That means every year 14.8 million Americans with workplace retirement plans move to new jobs. ... and contact the TSP participant for any signatures needed to finalize the rollover into the TSP participant’s TSP account. In so doing, the specialist ...

They can directly rollover Roth 401(k), Roth 403(b) and Roth 457 accounts (but not Roth IRAs) into their Roth TSP account. They can perform these direct rollovers by going online to their TSP account and completing online Form TSP-60. Direct rollovers into TSP accounts have no effect on the amount that employees can contribute via payroll ...

TSP Rollover Concierge Service: Simply call the ThriftLine and navigate to the rollover concierge service. A dedicated rollover specialist will guide you through each step of the process, from contacting the providers of your existing retirement accounts to ensuring that the rollover is seamlessly executed into your TSP account.

This column will discuss the TSP rollover option of a separated participant’s TSP account to an IRA or to an eligible employer-sponsored retirement plan. An eligible employer-sponsored retirement plan includes a 401(k) plan, a profit-sharing plan, a 403(b) tax-sheltered annuity or an eligible 457(b) plan maintained by a government employer.

Rolling over funds into your Thrift Savings Plan (TSP) could be the strategic move you’ve been searching for. With the flexibility to consolidate funds from various eligible retirement plans, such as a 401(k), 403(b), or traditional IRA, into your existing TSP account, you can enjoy numerous benefits that could positively impact your ...

Rollover Center Learn all you need to know about moving your 401k into an IRA that you control. Knowledge Center Helpful information about IRA's, 401k's, and more! Updated for 2025. Retirement Blog Keep up to date on the latest retirement related topics.

The Thrift Savings Plan will accept transfers and rollovers from qualified plans like a 401(k) or IRA, even if the participant is no longer in Federal service.See Form TSP-60 (traditional TSP) and Form TSP-60-R (for Roth TSP) for precisely which plans are eligible for the TSP and Roth TSP. Although the TSP will allow a transfer from a Roth 401(k) into a Roth TSP, the TSP cannot accept ...

The TSP will accept into the Roth balance of your TSP transfers from Roth 401(k)s, Roth 403(b)s and Roth 457(b)s—but you can't indirectly rollover Roth funds into your TSP, and you can't move money from a Roth IRA into your TSP account. If you don't already have a Roth balance in your existing TSP account, the transfer will create one.

As a Thrift Savings Plan (TSP) participant, you have the option of rolling over money from eligible retirement plans like a 401(k), 403(b), or a traditional IRA, into your TSP account. Even better – you can move money into your TSP while you’re still working or after you retire. By consolidating your retirement savings into

Money from a Roth employer-sponsored plan, such as a Roth 401(k) that you had either prior to or after your federal career. ... You can execute a rollover into the TSP more than once, assuming ...

For veterans and service members, the Thrift Savings Plan (TSP) offers a solid foundation for retirement savings, akin to a 401(k) in the civilian sector. However, many opt to roll over their TSP into an Individual Retirement Account (IRA) upon leaving service for greater flexibility and investment options.

When considering a TSP rollover, it's also important to know that: Traditional TSP funds can roll into a Traditional IRA or 401(k) tax-free, or into a Roth IRA (but you'll owe income tax on the conversion). Roth TSP funds must go into a Roth IRA or another Roth 401(k)-type account to maintain their tax-free withdrawal status.

Decide whether to roll over your TSP to an IRA or 401(k) or keep it in the TSP. If required, submit the necessary forms to request a direct rollover. After 90 days: If no action is taken, you may be required to start taking distributions or move funds into another retirement plan based on your balance and IRS rules. Final Thoughts

Rolling over your Thrift Savings Plan (TSP) into another retirement account might seem daunting, but breaking it down into steps can simplify the process. Whether you're transitioning to an Individual Retirement Account (IRA), a 401(k) with a new employer, or exploring other avenues, here are the steps to ensure a smooth transition:

But a major change occurred in the 1990s; taxes were withheld from any rollover that was not a direct rollover (i.e., the money went directly from the IRA or TSP to the other qualified account).

A departing employee usually has these options for a 401(k) account: leave the money in the 401(k) plan; transfer it to the 401(k) plan of a new employer, if the new plan allows; have the account ...