By Mike Miles
September 16th, 2013 | Uncategorized
Q. I took out all of my money from my Thrift Savings Plan and put it in an IRA. Now I have lost a lot of money. I retire in January. Can I have the bank put my money back in my TSP account? If so what do I need to do to make this happen?
A. You should be able to do this if your TSP account is still open. If you emptied it earlier, this is no longer an option for you. You could, however, move the money to a discount broker and use Exchange Traded Index Funds to emulate the TSP’s five basic funds. Since four of the funds are index funds, you’ll find nearly exact duplicates, at slightly higher cost, in the retail market. You won’t be able to come close to the G Fund outside of the TSP, and the best you’ll be able to do is a cash equivalent like money market or certificates of deposit.