Direct Rollover from Simple IRA to TSP

[den]

I have a simple IRA through my former employer. I am trying to figure out if I can make a direct rollover from that IRA to the TSP. Form tsp-60 states that in order to do that, the IRA must be a traditional IRA or qualify as an "eligible employer plan". My rep at the IRA has not been helpful in answering whether the simple IRA qualifies as an "eligible employer plan" and every time I read the instructions on the form I go back and forth as to what I think is the answer.

Can anyone answer that question for me?

 

[Spaf]

Hi Den!
We have some CPA members that may be of help! You might send "GeorgiaGal" a private message (PM).......

 

[GGal]

Hello,

The IRA should qualify as you have described it. I suggest submitting the paperwork and letting the system handle it. They will tell you if there is a problem.

See this:

http://www.irs.gov/retirement/sponsor/article/0,,id=139831,00.html

I am glad to be of some use on this board, other than my good looks, which we all know is the main reason for all the visitor hits, as well as all the new members joining up!

There is a reason your rep is not being helpful, young man....he does not want to lose your account!

Caution, I have not read TSP-form 60, am leaving that up to you, I'm busy with important things like doing my nails and shopping.

Nor am I advising you to roll or not to roll.

I am merely answering your question. A simple IRA is both a Traditional IRA and an Eligible Employer Plan.

 

[den]

I do appreciate your help and the confirmation of my own thoughts...submit the paperwork and see what happens!