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Author: James51 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75801  
Subject: Re: TSA Rollover ? Date: 7/13/1999 12:20 PM
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As PeppermintPatty said, you can't move that money to an IRA until you leave the
job that makes you eligible for the 403b plan. At that time, you may only transfer
the money to a traditional IRA. A Roth IRA cannot accept a rollover from anything
else except another Roth IRA or a traditional IRA. Once the money is in the
traditional IRA, though, you may then transfer it immediately to a Roth IRA. When
you do, the amount transferred will be taxable as income, and ordinary income
taxes on that sum must be paid

Thanks for the help! Now more basic questions. I currently have a Roth IRA. I can also have a "regular"IRA? I understand that there is a limit of $2000 per year individual contribution to an IRA. Does the government care if I have both a Roth and "regular IRA? I can set up a "regular IRA" in order to roll over my TSA money and the amount that I have accumulated in my TSA ($10,000) will not count toward the $2000 per year limit?

James
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