Do I roll all these retirement accounts into TSP?
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Anonymous
|
-inherited IRA
-regular IRA -Defined benefit plan -403b Which ones and why or why not? |
Anonymous
| You need to talk to a financial advisor who knows the rules, size and composition of all of these accounts. Your question is far too vague for a group of randos on the internet to answer it. |
Anonymous
|
For the regular IRA I would roll it in if you took deductions for it. The inherited IRAhas special distribution rules so I wouldn’t roll that in.
Are you cashing out the DB plan or asking if you should cash it out? |
Anonymous
| I don’t think you can roll in an inherited IRA |
Anonymous
You can roll the traditional IRA and the 403b. https://www.tsp.gov/tsp-basics/move-money-into-tsp/ You can’t roll an inherited IRA or a defined benefit plan. You should roll the traditional IRA so that you can take advantage of a backdoor Roth without running into issues with the pro rata rule. The 403b depends on what your plan options are and whether there are quality low cost funds available. |
Anonymous
| Why do you want to roll over your IRA to TSP? TSP is not very flexible when come to withdraw your money in the future. I am planning to roll over my TSP to IRA when I retired. |
Anonymous
- Inherited IRA: From spouse, YES. Otherwise, NO. - Regular IRA: If a rollover from a previous 401k/403b, YES. If post-tax regular IRA, NO. Not allowed. - 403B: YES - Defined Benefit Plan - Not sure. |
Anonymous
Maybe they want to do backdoor Roth without getting stuck paying taxes due to the pro rata rule. |
Anonymous
| Talk to a professional accountant who specializes in retirement and inheritance. |