Experience moving retirement money into the TSP?
May 30, 2012 8:39 PM   Subscribe

Anyone with experience moving retirement account contents into the Thrift Savings Plan (TSP)?

I have a one or two stray IRA accounts, one 401(k) from a former employer, and a TSP account with the (US) government. I'd like to close the IRA account(s) and the 401(k) account and move all the loot into the TSP account, because it would simplify things and probably minimize administrative fees.

But I'm afraid that something will get screwed up on one or both ends. Has anyone out there done this? How did it go?
Thanks in advance.
posted by Napoleonic Terrier to Work & Money (2 answers total)
 
Call the plan administrator of the TSP and ask them to make the changes for you. They will send you paperwork and do what is necessary.

I've moved many work 401(k) plans to my personal IRA and I've always contacted my current IRA holder to do this. They get the information over the phone, send the paperwork for me to sign and a week or so later, it's all taken care of.
posted by Ruthless Bunny at 6:20 AM on May 31, 2012


Best answer: i did exactly this when i started my job with the feds about 3 years ago. i had three different accounts that i needed to roll over. each one required different paperwork and i was so afraid that something would go wrong. i kept copies of everything and made a note anytime i spoke to someone on the phone. it took a little time but everything transferred into tsp with no problems. i do seem to remember that i had to initiate all the paperwork and didnt really get much help from my tsp representative. also there was a lot of mailing papers back and forth. for instance, i requested the forms from edward jones and filled them out. then i had to send them to the tsp person to sign (maybe verifying something?). then mailed back to edward jones. if you want more details i can pull out my old paperwork...but it was all fairly easy and like i said...all my money ended up where it should be. good luck!
posted by orangemacky at 6:53 AM on May 31, 2012


« Older iPadeando   |   Uterine prolapse? Newer »
This thread is closed to new comments.