By Mike Miles
November 12th, 2012 | Uncategorized
Q. I am CSRS and eligible to retire now with 30 years at age 56. My salary excludes my wife and I from funding a Roth with more than $6,000 each year (except $22,500 allowable into new Roth TSP).
Let’s say I put $25,000 into the Voluntary Contributions Program with the intention of making a one-time, lump-sum withdrawal as soon as possible and roll the original $25,000 into a private Roth IRA.
I am told that doing so is a way to immediately fund a Roth that is not limited to my current $6,000 amount mentioned above. Do I understand this correctly, and is there a publication that specifically identifies these options? My financial adviser feels this is too good to be true if true.
A. It’s true. Maybe you should find another financial adviser.
November 13th, 2012 at 10:40 am
See Rollover Options