Stephen Barr
No matter the type of TSP or contribution structure you choose, the contribution limit is $23,000 for 2024 (up from $22,500 in 2023). Employees age 50 or older can also make catch-up contributions of $7,500 in either year.78 Employees who are new to federal employment can roll over...
500 catch-up contribution for participants age 50 and older),the limit increases to $66,000(for 2023) during the year of a combat deployment. This includes both the participant’s contributions and the agency’s contributions combined (excluding catch-up contributions). Therefore, not...
For 2024, the IRS elective deferral limit is $23,000 in regular contributions and $7,500 in catch-up contributions, if you’re over age 50. For uniformed services participants, this includes incentive pay and special pay, including bonuses. If you want to maximize your contributions but aren...
With automatic enrollment set at 5%, participants can fully capitalize on matching contributions without taking any action; the agency or service automatically matches up to 4% of a participant’s basic pay plus an additional automatic 1% contribution (4% + 1% = 5% matching). ...
Civil Service Pay and Catch-Up TSP Contributions on Congressional AgendaStephen Barr
House Approves Catch-Up TSP Contributions for the 50-and-Older CrowdStephen Barr
Stephen Barr