Any ROTH TSP experts here?

[kork13]

I want to roll over a ROTH IRA to a Roth TSP. The form 60-R said that it had to be a different type of Roth IRA to allow for this. Does anyone know why? Also, after reading this blog does this seem like a good idea if I could do it?

Typically it runs the other direction -- you roll over a TSP/401k/403b account INTO an IRA. I'm not certain of the exact details, but bottom line, the TSP does not allow you to roll IRAs into the TSP, they only allow rollovers from the Traditional/Roth TSP into Traditional/Roth IRAs.

However, as you alluded to, even if they did allow you to roll into the Roth TSP, you wouldn't want to do it (IMO). Roth IRAs will never be subject to required minimum distributions (RMD's), whereas both the Traditional & Roth TSP require RMD's. Plus, by keeping your retirement funds in an IRA, you have exceedingly more flexibility in what you can invest your savings in versus the 5 funds (albeit pretty good) that are offered by the TSP.

[Like2Plan]

Typically it runs the other direction -- you roll over a TSP/401k/403b account INTO an IRA. I'm not certain of the exact details, but bottom line, the TSP does not allow you to roll IRAs into the TSP, they only allow rollovers from the Traditional/Roth TSP into Traditional/Roth IRAs.

Actually, you can do a Rollover or Transfer into the TSP, just not Roth IRAs as Kodymiester noted. (I don't know why. Roth TSP is relatively new. Maybe it is due to software limitations?)

"You can have your traditional IRA or eligible employer plan send all or part of your money to the TSP. This is called a “transfer” or a “direct rollover.” Use Form TSP-60, Request for a Transfer Into the TSP, for tax-deferred amounts. Use Form TSP-60-R, Request for a Roth Transfer Into the TSP, for Roth money.
The TSP cannot accept transfers from Roth IRAs."

Link to TSP Rollovers and Transfers

[kork13]

Actually, you can do a Rollover or Transfer into the TSP, just not Roth IRAs as Kodymiester noted. (I don't know why. Roth TSP is relatively new. Maybe it is due to software limitations?)



Link to TSP Rollovers and Transfers

Duly noted. Please ignore me, as I am a loon. lol