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Financial Planning / Thrift Savings Plan (TSP)


Subject:  Life after TSP Date:  9/13/2007  10:44 PM
Author:  Badfish740 Number:  70 of 93

I currently work for the federal government and I've been a full time employee for just over eight months now. This is my first job out of college, so the TSP account I have is my first retirement account. I'm in an entry level position at the moment and I'm contributing 5%, which is the most that the government will match. I expect that I will probably leave my current position after about another year or so-at that point, what happens to the funds in my TSP? Can I transfer them to whatever retirement account is available at my next job? How do I do that? Do I need a financial planner? Will there be tax penalties?
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