TSP participants that are age 50 or older can contribute an amount that exceeds (catch-up contributions) the annualTSP contribution limits. Multiple Fund Investment Options TSP participants have a choice of diversified investment funds andlifecycle funds. ...
Investing in the TSP versus an IRA is not an either/or proposition—you can have both a TSP and an IRA at the same time. One primary difference between them is their respective contribution limits. Contributions As mentioned above, for 2024, the annual employee contribution limit is $23,000...
The following TSP contribution limits apply for 2024: The elective deferral limit is $23,000. For federal employees, this limit applies to the combined total of Traditional and Roth contributions. For members of the uninformed services, the limit applies to all Traditional and Roth contributions ...
Impact of the TSP Auto-Enrollment Program 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...
TSP Contribution Limits Note – TSP Contribution Limits:The Thrift Savings Plan follows the same contribution guidelines as the 401(k). The contribution limit in 2024 is $23,000, and those aged 50 or above can make “catch-up” contributions, up to an additional $7,500 per year. ...
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...
401K/403b.These are buckets provided by your employer. They select an investment company which then offers a selection of investments from which to choose. Many employers will match your contribution up to a certain amount. Both your and your employer’s contributions are tax deferred, reducing ...
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 $...
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...