Re: [TSP_Strategy] TSP Roth - A Roth IRA on Steroids

 

So RMD isn't required after rolling over TSP Roth to Roth IRA, correct?

Thanks 

Roll over a Roth 401(k) into a Roth IRA, tax-free.

 

 

 

-----Original Message-----
From: sarah_oz@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy <TSP_Strategy@yahoogroups.com>
Sent: Wed, Jun 1, 2016 10:05 am
Subject: Re: [TSP_Strategy] TSP Roth - A Roth IRA on Steroids

 

The required minimum distribution rules apply to your TSP account as a whole. The calculation of your RMD takes into account both traditional and Roth balances.

What you can do

• Roll over a traditional 401(k) into a traditional IRA, tax-free.
• Roll over a Roth 401(k) into a Roth IRA, tax-free.
• Roll over a traditional 401(k) into a Roth IRA—this would be considered a "Roth conversion," so you'd owe taxes.

What you can't do

• Convert a Roth 401(k) to a traditional IRA.

You do not have to take required minimum distributions from either a traditional 401(k) or a Roth 401(k) if you are still working. If, however, you are retired, you do need to take RMDs from either kind of account after you turn age 70½, although your Roth 401(k) withdrawals will be tax-free. The required withdrawals are based on the balance in your account at the end of the previous year and the IRS's life-expectancy figure for your age. If you have Roth 401(k)s with several former employers, the RMD is calculated separately for each account.

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Posted by: lindalyc@aol.com

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