Transferring TSP funds to Roth account

0

Q. Can I withdraw part or all of my TSP and put it in the Roth account that I have with my bank? I left the federal government workforce three years ago.

A. You may do this by converting the money and paying the tax, but why would you? Have you compared what your bank will pay you on those funds to what the G Fund pays? Is there a reason to believe that it will be in your best interest to pay the tax now, rather than later?

Share.

About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

Leave A Reply