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USAA is The American Legion's preferred provider of financial services. Offering a range of top-rated financial and insurance products and services. USAA welcomes honorably discharged U.S. military veterans, active-duty troops and qualified family members and descendants of those who have served. USAA contributes funds to American Legion programs when members join through a dedicated channel:
usaa.com/legion or by calling toll-free at 1-877-699-2654.

Financial Questions & Answers

Financial Questions & Answers

Question:

I am a member of The American Legion but not presently a member of the government or military. Can I join the Thrift Savings Plan (TSP) in April 2012? -Richard

Answer:

Since the TSP is an employer plan, you won’t be able to participate in the Roth TSP at whatever point it becomes available. However, you still may be able to get in on a little Roth. If you have earned income and are eligible, you could contribute to a Roth IRA. You may also be able to convert old employer plan or traditional IRA into a Roth IRA. A conversion would be a taxable event, so it’s something you would do after reviewing the tax impact, now and in the future, with your tax advisor. We’re sorry you can’t jump on the Roth TSP bandwagon, but there still may be some Roth out there for you.