Ask The Experts: Money Matters

By Mike Miles

Inheritance and transferring to TSP

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Q. My mother recently passed away and her teacher retirement account provided a lump-sum benefit to my sister and myself. As a surviving beneficiary other than a spouse, I can take the payment as a rollover to an inherited IRA. I would like to put this money into my Thrift Savings Plan account. Can I transfer the proceeds directly from the teacher retirement to my TSP?

A. Inherited money can’t be transferred into your TSP account.

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Comments

  1. Mark Says:
    August 1st, 2013 at 8:29 pm

    If you are a CSRS employee I believe you can roll it into a the “VCP” program.