How to move IRA to TSP?

[outdoorman]

Over the past 3 years, the Financial Advisor (associated with my credit union) has been managing my IRA as well as non-IRA mutual funds at a cost of 3%.
Since then, I've returned to federal employment and have a TSP that I've been contributing.
I'm thinking of moving the IRA into my TSP account which should be easy enough.
But not sure how difficult it would be to sell the mutual funds he is managing and buy no load or low fee mutual funds?
Would this be the best move to make?

 

[nasa1974]

You can check out the different forms that TSP has at this link; https://www.tsp.gov/forms/index.html

I'm not sure about the mutual funds but you should be able to transfer your IRA using the TSP-60 form; https://www.tsp.gov/PDF/formspubs/tsp-60.pdf
Form: TSP-60, Request for a Transfer Into the TSP (10/2012)
Request to have an amount transferred or rolled over into the TSP from an IRA or other eligible plan.

Form: TSP-60-R, Request for a Roth Transfer Into the TSP (10/2012)
Request a transfer of Roth money from an applicable retirement plan into the Roth balance of your Thrift Savings Plan (TSP) account; https://www.tsp.gov/PDF/formspubs/tsp-60-r.pdf

Hope this helps.

You can also call TSP, here is the link with information; https://www.tsp.gov/ParticipantSupport/Content/contact/index.html

 

[uscfanhawaii]

For moving the IRA into TSP, just make sure you do a direct rollover from the financial institution to TSP. If you take a withdrawal and then deposit, they will take out 20% withholding for taxes in case the re-deposit doesn't happen.

Easy to sell Mutual Funds, although there may be a fee.

Not sure why you would want to transfer to TSP....I have a separate IRA account outside of TSP, that gives me more options. But I think 3% is a hefty charge, so unless he is going strong and is worth the 3%, index funds probably are better than actively managed funds. At least that has been my experience. I use Vanguard for my outside Index Funds IRA. They must have like 100 Index funds to choose from, compared to TSPs 4.

Bottom line is that you must make your own choices after evaluating your options. Look through the investment strategies threads to see what others are doing, to get some ideas.

Good Luck in your investing!