TSP roll over – TSP rollover into IRA Review 1-800-566-1002 . Understand the most important topics regarding the pros and cons of thrift savings plan rollovers into an ira. Make sure to avoid the most common mistakes that cost individuals thousands of retirement dollars per year. Become educated with the best thrift savings plans rollover review.

A TSP account is tasked as an individual account for retirement. The acronym itself stands for Thrift Savings Plan. A thrift savings plan allows an individual to save for retirement with a defined contribution method. Its structure is designed to mimic the form and function of a private sector 401(k). The account is issued by the Federal Retirement Thrift Investment Board and are available to US civil servants and members of the armed forces.

Created by the Internal Revenue Code of 1954, the TSP can be funded with cash, cash equivalents, rollovers, transfers, or conversions of IRAs and other retirement accounts. There are 5 types of investment options for individuals with a TSP account: the G Fund- which deals with government securities, F Fund- which invests in BlackRock’s U.S. Debt Index Fund, C Fund- using common stock, S Fund- which invests in small capitalization stock, and the I Fund- which deals with international options (BlackRock’s EAFE Index Fund). The TSP account also has lifecycle fund options. Which allow for automatic reallocation of assets from more-risky stock funds (the C, I, and S Funds) into less-risky income funds (the F and G Funds) as an employee reaches retirement age.

Since TSP account are a defined contribution plan, your retirement income received depends on how much is actually placed into the account during your working years and what those investments did while there. Don’t worry if you are no longer in Federal service. The TSP account can be rolled over into any qualifying retirement account. This can be with the new employer or as an IRA.
What are defined contribution retirement plans? I’m sure you’ve heard of some of the most common used terms for defined contribution plans such as the 401(k)s, the 403(b)s, the 457’s, and the “Thrift Savings Plans” or TSP’s. These retirement plans are offered through the employer as a way you can save for your retirement. Technically speaking they are “sponsored” by the employer.

The main reason these plans are called “defined contribution retirement plans” is because you are the one contributing your own money into them. This does not necessarily mean you are the sole contributor to the plans. Often employers will match a certain percentage to let’s say a 401k plan.

Participation in 401k’s plans are the highest; therefore you will often hear about them and may understand them better than the other three. Once you leave an employer, you have the right to rollover your 401k’s, 401b’s, 457’s, or TSP.
Remember, this rollover can be done with most retirement plans including pensions and TSP (Thrift Savings Plan).
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