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Rollovers that move money into the Thrift Savings Plan do not count against the annual elective deferral limit ($18,500 in 2018). To roll money into the Thrift Savings Plan, you would use form TSP ...

The Thrift Savings Plan website discusses rolling money into the TSP here: Move money into the TSP. To roll money into the Thrift Savings Plan, you would use form TSP 60 for rollovers into your ...

Whether to roll over TSP funds into an IRA is, at first glance, no different than whether a non-government employee should rollover their 401k or 403b. Upon closer examination, however, there is a ...

Ed Zurndorfer outlines how a Thrift Savings Plan participant can rollover qualified retirement plans such as 401(k), 403(b), 457 plans and/or a traditional IRA to an existing TSP account ... for rolling over money into his or her TSP account from an eligible retirement plan or from a traditional IRA (see table above). They are: (1) Using the ...

Is the TSP authorized to make rollovers to eligible retirement plans? Yes. Participants may roll over eligible rollover distributions from their TSP accounts to a qualified trust or an eligible retirement plan (as defined in IRC § 402(c)(8)). (See 5 USC § 8433(c)(2).) An eligible retirement plan can be either an IRA or an eligible employer plan.5

Direct Rollovers: Funds are transferred directly from your eligible retirement plan or IRA to your TSP account, bypassing taxation at the time of rollover. Indirect Rollovers: You receive the funds from your retirement plan, and then you transfer them to your TSP account within a specified timeframe (usually 60 days).

How to Make the Move. Moving money into your TSP account is a straightforward process that can be done through two convenient methods: 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 ...

a Roth TSP. 2) You may also do an indirect rollover, in which case the payment is made to you from your traditional IRA and you deposit it yourself into the TSP within 60 days after you receive your payment. You cannot roll over money from a Roth IRA to your TSP account even if you have a Roth TSP. Can I roll over my TSP account to my IRA? Some ...

With an indirect rollover, the TSP sends a check made out to the TSP participant, and the TSP participant then deposits the check into a retirement account within 60 days of receiving the check. With an indirect rollover, the TSP must withhold 20 percent in federal income taxes. This is because the check is made out to the TSP account holder.

A participant’s financial institution or plan administrator must certify that the plan will accept the funds from the TSP. The TSP will not accept the rollover forms of other financial institutions or plans. Helpful Thrift Savings Plan Resources. You’ll find TSP forms and publications here. TSP-70 Request For Full Withdrawal

The Thrift Board lists three reasons why individuals should consider rolling money into their TSP accounts. To roll money into the Thrift Savings Plan, you would use form TSP 60 for rollovers into ...

A TSP rollover may offer more flexibility, allowing you to transfer funds without incurring taxes and then re-allocate those funds into potentially better investment options. TSP Rollovers: Options for Moving Your Funds into an IRA. A common strategy for those who want to potentially improve their investment results and gain greater flexibility ...

distribution from the plan. 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 can’t move money from a Roth IRA into your TSP account. If you your existing TSP account, the transfer will create one.

Edited 4/15/24 to provide the following summary of the pros and cons of transferring money out of TSP. Reasons to Rollover: 1. TSP prohibits you from allocating/investing Roth and traditional funds separately 2. TSP has a limited selection of mutual funds and ETFs (unless you use the limited and expensive mutual fund window) 3.

transfer or roll over money from both plans into the TSP. How does the annual elective deferral limit affect transfers? Money that is transferred or rolled over into the TSP is not applied to the annual elective deferral limit ($15,500 in 2008) that is im-posed on regular employee contributions. What happens to the money once it reaches the tsP ...

An Example of an Indirect Rollover Now let’s look at two scenarios of our favorite Fed Bob: He is 49 and decides to rollover his TSP account of $100,000 into his IRA. The Thrift Savings Plan withheld $20,000 (20%) from the distribution, and Bob received a check for $80,000.

When rollovers began, and until the mid-1990s, as long as the money that was withdrawn from the TSP (or other tax advantaged account, such as an IRA) was rolled into another tax advantaged account ...

First and foremost, you can roll money into your TSP account either as an employee or after you have separated from federal employment. You can roll the following into the Traditional balance of your TSP: Money from a Traditional employer-sponsored plan, such as a Traditional 401(k) that you had either prior to or after your federal career;