Q. My wife and I contribute 18 percent to TSP (Roth) but also have five outside funds (1 mutual fund, 2 Roth IRA’s, 2 traditional IRA’s) that we no longer contribute to. I am retiring soon; however, my wife will work another three years. Would you recommend rolling them into our TSP (L2030)?
Browsing: Roth TSP
Q. Required minimum distribution requirements will put me close to the Medicare cut off, so I need to reduce my TSP balance by converting current TSP money, by changing contributions to go into a Roth TSP or by selling mutual fund investments that are causing taxable gains every year. I plan to retire Jan. 3, 2020. I am already 70.5 years. Would one of these options be better than another or is there another option that you could suggest?
Q. Does contributing to the Roth TSP affect my Roth IRA annual contribution limits? Can I submit up to the limits of both in the same year ($18,500/year Roth TSP and $5,500/year Roth IRA) if I have a Roth IRA account in addition to my Thrift Savings Plan account?
Q. What is the difference between a Roth TSP and a Traditional TSP? I was listening to a person yesterday and she says to place your funds in a Roth TSP so you don’t suffer the penalty at withdrawal. The only problem, she says, is you have to leave them in the Roth TSP for five years. Please clarify.
Q. I currently have my TSP setup as a Roth account and I’m debating the MRA+10 option for retirement. If I take the early retirement option can I withdraw from my TSP or do I have to wait until I’m 59½ to avoid the penalty?
Q. I’ve been reading your archives for CSRS Voluntary Contributions Program (VCP) and the strategy of rolling its balance over into a Roth. Since TSP offers such low management rates, a TSP Roth is my intended destination for these VCP funds. But as of your 2012 guidance, the VCP cannot be directly into a TSP Roth, as the VCP is not a “designated Roth account.” Has this guidance changed? If not, then can this still be done by transferring the VCP funds twice – from the VCP into a generic non-TSP (commercial) Roth and from that non-TSP Roth into the TSP…
Q. I have a TSP (Roth & Traditional) via uniformed service; I also have employer retirement accounts with TIAA (both Roth & Traditional), which is a 403(b). [I believe the scenario below would be the same for those with a 401(k).] To try to tease out and maintain the Roth funds for later, at separation/retirement from the reserves I am planning to take the one time bulk distribution (95-99 percent) of my TSP and have it be a direct rollover to my TIAA accounts. Once the TSP funds are in my applicable 403(b) Roth and 403(b) Traditional accounts at TIAA, I…
Q. I plan on retiring from 33 years of federal service with the Department of Defense. I have $1 million in my TSP and want to convert some of it each year to a Roth account. After retiring, I expect my taxable income to be about $100,000 per year. After retiring, if I transfer $50,000 per year from my TSP to a Roth account, what will my tax rate be? Note: I’m assuming the federal tax rate between $77,000 and $165,000 is 22 percent, for over $600,000 is 37%. Would I be taxed 22 percent on the $50,000, since $100,000 +…
Q. I just opened a new Roth IRA because I thought I could rollover my TSP Roth funds to it. Now I am being told I cannot. I am retiring at the end of March and was hoping to have this resolved and only keep the traditional money in the TSP. Is this possible to do and, if so, how (forms?), etc?
Q. There is a lot of information on sites regarding how to convert traditional TSP funds to a Roth IRA – and how to transfer Roth 401(k), Roth 403(b) and Roth 457(b) into the Roth TSP – but I can’t seem to find anything about transferring Roth TSP funds to a Roth IRA. I am told that this can be done (Roth to Roth), but can’t find anything definitive on it, or what form to use to do it.