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Author: wcfenton Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76238  
Subject: Re: IRA question Date: 6/4/2005 4:11 PM
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I have a TSP (which is a government 401K) plan that I contributed to for a few years. I separated from the military, so I cannot make contributions to it anymore, and want to roll it into an IRA. (I could just leave it and let it grow, but I'd rather put it into something I can work with)

I am opening a traditional IRA through my bank (because that's the only thing I can roll my TSP into) and my investment options are confusing.

I have my choice of a fix-rate CD, a variable rate CD or a money market account. I thought IRA's were put into stocks and funds.

What gives?

Also, how can I make monthly contributions into a 36 month CD?? It doesn't make any sense.
Yes, I have a disclosure statement, but it seems to assume I already know what I'm doing.

I went to the Fool IRA section, but it was just ads for brokers.

Can anyone clue me in? I'd appreciate it.

-----------------------

To the best of my knowledge, a TSP Account has most of the benefits and must follow the same rules associated with 401k plans. That would include rollovers to your new employer's 401k plan or to a Traditional IRA if that is what you elect to do. Take a look at the following TSP Online Booklet for answers to your questions. There are phone numbers included for additional questions:

http://www.tsp.gov/uniserv/forms/tspbk02.pdf

Your rollover from the TSP to a Traditional IRA isn't limited to your bank. Personally, I think that you would be much better off, as you are finding out, going through one of the better fund companies like Vanguard:

https://flagship3.vanguard.com/VGApp/hnw/content/AccountServ/Retirement/ATSRollOverPlanContent.jsp

Regards,
Bill

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