Move money into the TSP
You can roll over money from eligible retirement plans, such as a 401(k), 403(b), or traditional IRA, to your existing TSP account. There are multiple advantages to rollover contributions to the TSP, and you can use this option even after you retire.
Rollovers allow you to consolidate your retirement savings in one place so it’s easier to evaluate whether you’re on target to meet your goals with the right asset allocation. And because the TSP’s low-cost funds are usually less expensive than funds in other employer plans, your savings can grow faster in your TSP account.
How to roll over money to your TSP account
There are two ways to move money into your TSP account from an eligible plan: our rollover concierge service and the self-service option in My Account.
TSP rollover concierge service
Call the ThriftLine and follow the prompts to access the rollover concierge service.
A rollover specialist will assist you with each step of the process. They’ll contact the providers who administer the account you’re rolling over to the TSP, complete distribution paperwork on your behalf, and contact you for any signatures needed to finalize the rollover. Then the specialist will ensure that the money you want to roll over enters your TSP account correctly.
Self-service rollovers in My Account
When you log in to My Account, you can use an online tool to start the rollover contribution process. You’ll contact the provider of your eligible plan and request a rollover distribution. You’ll then send eligible distribution documentation and any rollover checks to the TSP. Follow the steps and rollover guidelines available in My Account.
Direct and indirect rollovers
A direct rollover occurs when the eligible employer plan or IRA sends all or part of your money to the TSP. Money that is directly rolled over is not taxed as income at the time of the rollover.
In an indirect rollover, the plan or IRA sends you the money and you send all or part of it to the TSP. Generally, you have 60 days from when you receive the money to complete the rollover. In an indirect rollover, your IRA or plan will withhold the appropriate amount for taxes. So if your intent is to roll over the entire amount of the distribution to the TSP and continue to defer taxes, you need to add money to make up for the amount that was withheld.
We will accept both direct and indirect rollovers of tax-deferred money from traditional IRAs, SIMPLE IRAs, and eligible employer plans such as a 401(k) or 403(b) to the traditional balance of your account.
We will accept direct rollovers of qualified and non-qualified Roth distributions from Roth 401(k)s, Roth 403(b)s, and Roth 457(b)s to the Roth balance of your account. If you don’t already have a Roth balance in your existing TSP account, the rollover will create one.
We do not accept indirect rollovers of Roth money and do not accept either type of rollover from a Roth IRA.
Investing rollover contributions
The money you roll over to the TSP from a plan or IRA will go into TSP funds according to your investment election on file. Rollovers do not count against the Internal Revenue Code limits on contributions. You can choose different TSP funds for your rollover money by changing your investment election before completing the rollover or by completing a reallocation or fund transfer after your rollover money is in your TSP account.
Resources
For more information about rollovers to your TSP account, download these TSP publications:
- Summary of the Thrift Savings Plan (461kb)
- Your TSP Account: A Guide for Beneficiary Participants (152kb)
If you’re looking for information about moving money from your TSP account to another plan or IRA, learn about your TSP distribution options.
