offtrack
03-19-2008, 10:39 AM
My daughter recently was hired by the VA and is now a TSP contributor. She has had a problem transferring money from her 403 (b) plan to the TSP. First they would not accept the TSP-60 to tranfer monies. She had to request a letter of dertermination on the company letterhead and submit this with another TSP-60 to TSP plan administrators as stated on the back of TSP-60 to open the door for monies to be accepted into her account. The plan provider still refuses to send monies unless my daughter fills out a distribution request on the paperwork of the previous plan provider. She has to modify the paperwork a bit as the transfer request paperwork is more designed for a withdrawal rather than a direct transfer and we want to fill this out accurately to insure direct transfer of all monies and not a withdrawal to her where 20% is withheld by the previous plan provider. It's a a bit of a hassle and I'd be enraged if my money were sitting somewhere for as long as hers has been while she is waiting for things to be straightened out. I'm curious if any of you have had or know someone who has had similar difficulty or have any opinion on this. I might do a little research and potentially get some attention to this problem. TSP was aware of the issue and immediately pointed out that i should request that letter of determination but said most plan providers will accept the TSP-60 without question.