Transitioning your TSP
One significant financial decision you’ll need to make when transitioning is choosing what to do with assets you’ve accumulated through the Thrift Savings Plan. Among your choices, you may:
- Leave your money in the TSP, where it can accrue earnings. Although you won’t be able to make additional contributions, you can make interfund transfers
- Roll over your TSP to a Traditional IRA or an eligible employer plan such as a 401(k)
- Request a series of monthly payments based on a dollar amount or your life expectancy
- Request a TSP annuity
Your choice may be governed by various rules and restrictions of the TSP and the Internal Revenue Code.
Consult a First Command Financial Advisor
With a 50-year heritage of service to America’s service members, First Command places special emphasis on the needs of military professionals. A First Command Financial Advisor can help you address the challenges of transitioning, such as weighing options for your TSP, replacing your SGLI benefits, and making decisions regarding your SBP. Your Advisor can also assist you in planning for your post-military life by:
- Helping you identify your immediate needs and long-term financial goals
- Providing options to replace benefits lost at separation or retirement
- Integrating your assets and benefits retained into a comprehensive financial plan for your future
- Continuing to work with you in a long-term relationship to help you make the most of your resources as you pursue your financial goals
To learn more, contact a trusted First Command Financial Advisor today.