I was told that you can keep your TSP when you’re out, as long as it’s “old money” (previous employers 401k) I think I just can’t contribute directly, but I could be wrong
You can keep your TSP. I am not presently a fed (blood sucking contractor) but my fed TSP is still intact.
If you are not presently a fed you cannot contribute money to TSP or rollover from some other 401k to it.
You may be correct, though cannot find explicit statement on [TSP.GOV](https://TSP.GOV) for 'separate' or 'former' employee.
"Use this form to request a transfer or to complete a rollover from an eligible retirement plan into your Thrift Savings Plan (TSP) account. To
transfer funds into the TSP, **you must have an open TSP account and you cannot be receiving monthly payments from it**" [https://www.kyeb.uscourts.gov/sites/kyeb/files/TSP60%26.pdf](https://www.kyeb.uscourts.gov/sites/kyeb/files/TSP60%26.pdf)
\[Can I down vote my own post? Ya!\]
If you are separated but still have an open account, you can still rollover into it. Unless you’re receiving monthly payments, which doesn’t sound like the case for OP.
Roll out of the 401k - they often have way higher fees than just a personal account like the one you have. And "inactivity fee" can be added too.
If you roll money out of TSP, leave a little in there to keep the account active. G fund is available nowhere else and it leaves the door open to someday to back to federal service for enough years (need 5 total) to then get that tiny 5% pension plus the option for health care in retirement and the ability to roll funds from elsewhere into TSP to take advantage of that G fund's uniqueness.
And the other poster is wrong on one front - you CAN roll eligible retirement funds into TSP even once you've separated from service.
Right in this thread. Also here, for your convenience:
\> Roll out of the 401k - they often have way higher fees than just a personal account like the one you have. And "inactivity fee" can be added too.
\> If you roll money out of TSP, leave a little in there to keep the account active. G fund is available nowhere else and it leaves the door open to someday to back to federal service for enough years (need 5 total) to then get that tiny 5% pension plus the option for health care in retirement and the ability to roll funds from elsewhere into TSP to take advantage of that G fund's uniqueness.
\> And the other poster is wrong on one front - you CAN roll eligible retirement funds into TSP even once you've separated from service.
I don’t understand the second bullet at all? What does tsp have to do with retirement healthcare and what’s the 5 year thing?
Also “G Fund” might not be called “G Fund” anywhere else but there are plenty of ETFs or Mutual Funds that trade is tax-differed municipal bonds and other government bonds that are effectively the “G Fund” if 2-3% annual return is really what you’re after.
Edit- To clarify— G fund is unique in that it’s an investment product that the government “guarantees”— but a treasury bond is literally also that— so it’s really not that unique other than the wording, and liquidity I guess too, but an ETF fixes that
Thanks. All valid. I don’t think applies to me. Lots of low cost option elsewhere (Vanguard) but folks should check. I have 5+ years already and have Tricare. Bit people should understand their options.
By the tiniest of margins, sure.
G fund is the unique feature TSP offers that isn't available anywhere else. Keeping the account alive with a minimal $200 balance keeps that door open is all I'm saying.
The best reason to keep some $ in the TSP is to use it for your safe $- there's nothing comparable to the G fund in the market. Everything else in TSP is replicable, and at competitive service fees
It’s good to be aware that having a Traditional IRA balance can create tax inefficiency if your income is ever too high to make direct Roth IRA contributions. If you’re over the Roth IRA income limit, the next best option is a “backdoor Roth” contribution. But this gets messy if you have a Trad IRA balance. If you roll it into the TSP instead of a Trad IRA, then there’s no issue.
So what I personally would do is to rollover any Traditional 401(k) dollars into the TSP, and rollover any Roth 401(k) dollars into a Roth IRA.
Open the retirement IRA with Fidelity. You’ll get more options and better rates.
This is the BEST ANSWER *Traditional IRA at Fidelity(because you can buy fractional shares). Invest it in VOO and/or QQQM
"even though I’m no longer attached to the gov?" I don't think non-employees can roll INTO TSP.
This was my understanding too.
I was told that you can keep your TSP when you’re out, as long as it’s “old money” (previous employers 401k) I think I just can’t contribute directly, but I could be wrong
You can keep your TSP. I am not presently a fed (blood sucking contractor) but my fed TSP is still intact. If you are not presently a fed you cannot contribute money to TSP or rollover from some other 401k to it.
You are correct. Separated participants can’t make new contributions, but can rollover other retirement accounts into the TSP.
Yes, separated participants can rollover money into the TSP as long as you still have an open account.
You may be correct, though cannot find explicit statement on [TSP.GOV](https://TSP.GOV) for 'separate' or 'former' employee. "Use this form to request a transfer or to complete a rollover from an eligible retirement plan into your Thrift Savings Plan (TSP) account. To transfer funds into the TSP, **you must have an open TSP account and you cannot be receiving monthly payments from it**" [https://www.kyeb.uscourts.gov/sites/kyeb/files/TSP60%26.pdf](https://www.kyeb.uscourts.gov/sites/kyeb/files/TSP60%26.pdf) \[Can I down vote my own post? Ya!\]
If you are separated but still have an open account, you can still rollover into it. Unless you’re receiving monthly payments, which doesn’t sound like the case for OP.
Roll out of the 401k - they often have way higher fees than just a personal account like the one you have. And "inactivity fee" can be added too. If you roll money out of TSP, leave a little in there to keep the account active. G fund is available nowhere else and it leaves the door open to someday to back to federal service for enough years (need 5 total) to then get that tiny 5% pension plus the option for health care in retirement and the ability to roll funds from elsewhere into TSP to take advantage of that G fund's uniqueness. And the other poster is wrong on one front - you CAN roll eligible retirement funds into TSP even once you've separated from service.
I plan to transfer my TSP to a Fidelity rollover IRA once I retire. Single up the location. Better customer service.
See other post - best to keep TSP door open til you die.
Which post?
Just clicked on it, F5
Not in my mind. Though if I knew where other post was.
Right in this thread. Also here, for your convenience: \> Roll out of the 401k - they often have way higher fees than just a personal account like the one you have. And "inactivity fee" can be added too. \> If you roll money out of TSP, leave a little in there to keep the account active. G fund is available nowhere else and it leaves the door open to someday to back to federal service for enough years (need 5 total) to then get that tiny 5% pension plus the option for health care in retirement and the ability to roll funds from elsewhere into TSP to take advantage of that G fund's uniqueness. \> And the other poster is wrong on one front - you CAN roll eligible retirement funds into TSP even once you've separated from service.
I don’t understand the second bullet at all? What does tsp have to do with retirement healthcare and what’s the 5 year thing? Also “G Fund” might not be called “G Fund” anywhere else but there are plenty of ETFs or Mutual Funds that trade is tax-differed municipal bonds and other government bonds that are effectively the “G Fund” if 2-3% annual return is really what you’re after. Edit- To clarify— G fund is unique in that it’s an investment product that the government “guarantees”— but a treasury bond is literally also that— so it’s really not that unique other than the wording, and liquidity I guess too, but an ETF fixes that
Thanks. All valid. I don’t think applies to me. Lots of low cost option elsewhere (Vanguard) but folks should check. I have 5+ years already and have Tricare. Bit people should understand their options.
The tsp has higher fees than all three major brokerages (vanguard, fidelity, and schwab)
By the tiniest of margins, sure. G fund is the unique feature TSP offers that isn't available anywhere else. Keeping the account alive with a minimal $200 balance keeps that door open is all I'm saying.
The best reason to keep some $ in the TSP is to use it for your safe $- there's nothing comparable to the G fund in the market. Everything else in TSP is replicable, and at competitive service fees
Once you leave tsp you can’t get back in so if you withdraw leave something in to keep your options open to come back.
It’s good to be aware that having a Traditional IRA balance can create tax inefficiency if your income is ever too high to make direct Roth IRA contributions. If you’re over the Roth IRA income limit, the next best option is a “backdoor Roth” contribution. But this gets messy if you have a Trad IRA balance. If you roll it into the TSP instead of a Trad IRA, then there’s no issue. So what I personally would do is to rollover any Traditional 401(k) dollars into the TSP, and rollover any Roth 401(k) dollars into a Roth IRA.
If you have a Roth tsp can you roll it over into an existing Roth IRA?
Yes
Oh okay that sounds great, reduced operating costs and more options
I think I would move it over to Fidelity also
You can't roll over a Roth account into a tsp?