Transfer Existing Roth IRA to TSP Roth IRA

[Weather]

Does anyone know if I can transfer a current Roth IRA to a TSP Roth IRA? I currently hold a Roth IRA in several mutual funds.

 

[Birchtree]

My question is why would anyone that is....want to have a Roth IRA in a mutual fund? Mutual funds only do a payout once/year. Individual stocks pay 4 times/year - that provides more flexibility and opportunity to DCA.

 

[Weather]

Thanks for the reply, but that's not the question. Do you know if I can transefer that Roth IRA to the new TSP Roth?

 

[Birchtree]

All defined contribution plans were designed to be mobile for the work force - so I'd say yes to your question. Check with your HR people for particulars. You'll have to go to cash for the transfer of money.

 

[Weather]

Excellent. Thanks a bunch and have a fabulous weekend.

 

[Frixxxx]

Depends on the type of Roth IRA:

A Roth TSP transfer in is allowed from Roth 401(k)s, Roth 403(b)s, and Roth 457(b)s

Always check with TSP before finalizing any transaction for specifics.

 

[uscfanhawaii]

Depends on the type of Roth IRA:

A Roth TSP transfer in isallowed from Roth 401(k)s, Roth 403(b)s, and Roth 457(b)s

Always check with TSP before finalizing any transaction for specifics.

Frixxx is RIGHT. In fact, those accounts he mentions are not, in the strictest legal sense, NOT Roth IRAs. They are in a different part of the tax code (hence, 401K, etc). If you really do have a Roth IRA, it is not eligible to be rolled into TSP Roth.

But I have to reiterate BTs comment.....why would you WANT to? Most of those are way more flexible than TSP. Plus, if you have both Roth and Regular TSP, you have to have them in the same funds. And eventual withdrawals must be made from BOTH funds in weighted %'s. This defeats the chance to do tax diversification.

Check out some of the other threads on TSP Roth conversions to see the plusses and minuses. I for one am keeping my Roth options OUTSIDE of TSP. Just my opinion.......