A TSP is not exactly the same thing as a 401(k), though they arestructured similarlyand have the same contribution limits. A TSP is what the federal government offers instead of a 401(k), the type of plan offered by private employers. It is possible to have both if you have worked ...
Each year, the IRS sets new maximum contributions, known as the IRS elective deferral limit. You can view this year’sThrift Savings Plan contribution limitsonline or consult the Office of Personnel Management. For 2024, the IRS elective deferral limit is $23,000 in regular contributions and $...
TSP participants that are age 50 or older can contribute an amount that exceeds (catch-up contributions) the annual TSP contribution limits. Multiple Fund Investment Options TSP participants have a choice of diversified investment funds and lifecycle funds. Ability to Transfer Other Employee Plans Into...
The Congressional Budget Office (CBO) released astudyshowing the impact the TSP auto-enrollment (AE) program had on plan participation, contribution as a percentage of salary and other factors. The results were positive across the board. This table covers the period just prior to and just after...
It is important to note that the Thrift Savings Plan contribution limits apply to your entire TSP account. So if the annual contribution limit is$22,500,you can contribute up to that much across your entire TSP account for that calendar year. You can make the contributions in your Traditional...
Contribution Limits: You cancontribute up to $23,000 per year in the TSP for 2025(or $30,500 if you’re 50 or older). 2025 Roth IRA contributions are permitted up to $7,000 per year (or $8,000 if you’re 50 or older).
It is important to note that the Thrift Savings Plan contribution limits apply to your entire TSP account. So if the annual contribution limit is$22,500,you can contribute up to that much across your entire TSP account for that calendar year. You can make the contributions in your Traditional...