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windknot -

You said: "From 1974-1990 I made monthly contributions to a TSA which now is worth about $31,000. I would like to re-invest a large chunk of this into the stock market, but am wondering what the tax consequences such a move would have for me? I am 51 and in the 28% tax bracket. Thanks for any help you can offer."

If you are still employed by the same employer you may transfer 403b/TSA funds to another 403b/TSA if you feel you can do better with another TSA provider. Does your current TSA offer stock funds? If so, you could transfer monies between investment accounts, keeping the same TSA itself.

If you've left that employer more choices are available - you could also transfer your TSA funds to an IRA of your choice...

Whichever is the case, you might not want to "withdraw" the funds yet, postponing taxes (+ 10% penalty because you're under 59 1/2 years of age...)

Best wishes, PP
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