Posted on Jul 22, 2019
What other options for TSP account are available?
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So I am out and know that I cannot contribute to my TSP anymore. Unfortunately even though I did contribute while I was in I am not sure that I contributed enough. I am now employed with a company that matches 50% of deferrals of my 6% contribution. (I am now maxed at this for their contribution) I want to know if anyone has withdrawn their TSP to invest elsewhere? i.e. Vanguard, Edward Jones, T. Rowe etc. I ask as I got my quarterly statement this week and for the last quarter I earned a whopping $35. What experiences does anyone have with moving the TSP and investing it elsewhere? (For reference I only have about $6K in my TSP)
TSP
Investing
Posted 5 y ago
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You may be able to roll it to another fund without tax or penalty. Also look to see if any or all of the contrbutions were during a deployment...if so, those contributions were and are tax free and they can just cut you a check. However, whatever you do if they give you forms to fill out carefully read every line because once the move is made, there isno turning back and could involve tax penalties. I would talk to the TSP folks directlyand let them know what your situation is and go from there. then I would talk to a certified financial counselor, not a barracks counselor like me and others here on RP. I do agree with one post though...if you decide to leave it in TSP I would roll it to another fund like the C, S, or I fund. Cheers.
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How are your funds invested in TSP? You have many choices. If you move it make sure it is going into a retirement fund. Before you move it out look at the fees charged in the account you are moving into. TSP does have low fees.
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MSG Gary Eckert
So the G-Fund has a fixed return rate based on Gov't Securities. If you are not at or close to retirement you probably want to put the money in a different fund if you are staying in the TSP. Until you know where you are going to park the money for simplicity sake you can select the fund with a date closest to when you think you are going to ultimately retire.
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If I were you I would just wait till next year then roll it over into your 401K. That way you don't incur any penalties. That is what I did. Then I rolled it back into TSP once I got a Federal Job.
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