WebMar 11, 2024 · For instance, if you converted your traditional IRA to a Roth IRA in November 2024, your five-year period begins on Jan. 1, 2024. But if you did it in February 2024, the five-year period begins on ... WebThe TSP will accept into the Roth balance of your TSP transfers from Roth 401(k)s, Roth 403(b)s and Roth 457(b)s—but you can't indirectly rollover Roth funds into your TSP, and can't move money from a Roth IRA into your TSP account. If you don't already have a Roth balance in your existing TSP account, the transfer will create one.

Roth IRAs and the Roth TSP Option - FEDweek

WebThe best way (in my experience) to make the transfer is by first moving your money to a traditional IRA and then over to a Roth IRA. This process is shown in the picture below. As … WebRoth TSPs are an excellent choice if you are expecting to earn a high income later in life or retirement. The Roth TSP may make sense even if you anticipate remaining in the same … margaret trudeau net worth

The new Thrift Savings Plan (TSP) Roth Option - TSP Folio

WebJul 30, 2024 · The annual contribution limit is the same for both the traditional TSP and the Roth TSP – $19,500 per employee under age 50 or $26,000 for those employees over age 49 as of Dec. 31, 2024. An employee can actually contribute both to the traditional TSP and the Roth TSP accounts but the employee’s total TSP contributions for 2024 cannot ... WebRoth IRAs have annual contribution limits, which can cap you at an amount lower than 10%. For 2024, that limit is $6,500, or $7,500 if you're 50 or older. So, let's return to our example … WebThe Roth TSP option is also different from a Roth IRA. There are some important differences between a Roth IRA and the Roth TSP feature. Higher income earners are … kuntz soccer field indianapolis