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Thread: Age-Based In-Service Withdrawal

  1. #1

    Default Age-Based In-Service Withdrawal

    I recently completed an Age-Based In-Service Withdrawal, rolling over most of my TSP account into my IRA.
    The process took about a month from the time I mailed my papers to my broker to the time the funds were deposited in my IRA. I was disappointed that my funds were in limbo - in neither account - for one week. Fortunately, there were no major market moves during that week so it had little effect on my balance.
    I'm curious if these time frames are normal for rolling over TSP funds to an IRA. I'd like to hear from anyone else who has done a rollover from their TSP.


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  3. Default Re: Age-Based In-Service Withdrawal

    That's great! I did not know that was an option. Did they withhold taxes on the withdrawal, even though you rolled it over?

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  5. #3

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    Default Re: Age-Based In-Service Withdrawal

    Quote Originally Posted by ripper View Post
    I recently completed an Age-Based In-Service Withdrawal, rolling over most of my TSP account into my IRA.
    The process took about a month from the time I mailed my papers to my broker to the time the funds were deposited in my IRA. I was disappointed that my funds were in limbo - in neither account - for one week. Fortunately, there were no major market moves during that week so it had little effect on my balance.
    I'm curious if these time frames are normal for rolling over TSP funds to an IRA. I'd like to hear from anyone else who has done a rollover from their TSP.
    ripper,

    I did a partial withdrawal after I retired and it took 2 weeks from the request to when it posted in my checking account. I would say your timeframe wasn't bad considering you had to deal through your broker. Waiting for everything to move along my TSP account took a slight loss, a slight gain would have been nice. But if I had a chance to do it again I think I would have put everything in the "G" fund just to make sure everything was protected during the time it would take to transfer. Hindsight I guess.

    Good luck with your IRA
    May the force be with us.

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  7. #4

    Default Re: Age-Based In-Service Withdrawal

    Quote Originally Posted by OleyOlson View Post
    That's great! I did not know that was an option. Did they withhold taxes on the withdrawal, even though you rolled it over?

    There were no taxes withheld since it was a rollover.

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  9. #5

    Default Re: Age-Based In-Service Withdrawal

    Quote Originally Posted by nasa1974 View Post
    ripper,

    I did a partial withdrawal after I retired and it took 2 weeks from the request to when it posted in my checking account. I would say your timeframe wasn't bad considering you had to deal through your broker. Waiting for everything to move along my TSP account took a slight loss, a slight gain would have been nice. But if I had a chance to do it again I think I would have put everything in the "G" fund just to make sure everything was protected during the time it would take to transfer. Hindsight I guess.

    Good luck with your IRA
    Thanks, nasa1974.

    I'm off to a good start. My IRA gained 1% in the first two weeks, while the amount I left in my TSP remained flat. It's great not to be bound by the noon deadline and the two IFT limit.

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