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TSP

Administered by the Federal Retirement Thrift Investment Board, this defined contribution plan for federal employees has roughly 4,614,874 participants, and over $358 billion in assets under management. Ask your TSP questions and post related topics here.

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pookey1960  
#1 Posted : Wednesday, September 23, 2020 3:42:09 AM(UTC)
pookey1960

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Good day - my husband, a federal employee, recently passed away. I'm his TSP beneficiary, and still an active fed. Can I roll his TSP into my account? The TSP-17 does not list any options, and I don't really want to be taxed on his account this year, I'd rather add it to mine and pay taxes when I have to begin withdrawing funds. Thanks!
TheRealOrange  
#2 Posted : Wednesday, September 23, 2020 5:19:09 AM(UTC)
TheRealOrange

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Originally Posted by: pookey1960 Go to Quoted Post
Good day - my husband, a federal employee, recently passed away. I'm his TSP beneficiary, and still an active fed. Can I roll his TSP into my account? The TSP-17 does not list any options, and I don't really want to be taxed on his account this year, I'd rather add it to mine and pay taxes when I have to begin withdrawing funds. Thanks!

I'm sorry to hear about your husband's passing. See the "Combining Your TSP Accounts" information at this link. https://www.tsp.gov/publications/tspbk33.pdf

If you have an existing TSP account from your own employment with the federal government or the uniformed services, you can move your beneficiary participant account into your existing TSP account. The money that you move will be treated as an employee contribution, but it will not be subject to the Internal Revenue Code (IRC) annual elective deferral limit, which limits the amount of regular tax-deferred and Roth contributions you can make to the TSP in a calendar year.

In general, once you combine your beneficiary participant account with your existing TSP account, your beneficiary participant account money will be subject to the rules that govern the account to which it was moved.
thanks 1 user thanked TheRealOrange for this useful post.
GordonG on 9/23/2020(UTC)
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