Can you transfer your military retirement balance to a 457?

2020-09-18T13:08:51-04:00

I did 4 years active duty Marines and am now a correctional officer in the state of California. I have a 457 through my job now and am curious if I can do anything with the retirement I accumulated in my 4 years of service. Whether roll it over to my 457 or to my state retirement plan I have now.

Response by SPC Margaret Higgins made Sep 18 at 2020 1:11 PM

2020-09-18T13:11:01-04:00

Dear Nathan, I pray that you are successful at finding out the answer to your question. Cpl Nathan Siefken

Response by Lt Col Jim Coe made Sep 18 at 2020 4:31 PM

2020-09-18T16:31:32-04:00

I assume you're talking about a TSP. Recommend you contact https://www.edelmanfinancialengines.com and talk with an advisor about the problem. They have provided me excellent services and done a really great job managing my retirement account.

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Response by COL David Turk made Sep 18 at 2020 4:51 PM

2020-09-18T16:51:17-04:00

Your question is slightly confusing, so I’ll take this tact.
If you work for a federal agency, or certain states agencies, they allow you buy into their respective retirement system based on your years of active duty. You are not “converting” your military retirement. You are using your active duties years to exercise a “buy in” option on the civilian side.