TSP Contribution Limits Note – TSP Contribution Limits:The Thrift Savings Plan follows the same contribution guidelines as the 401(k). The contribution limit in 2025 is $23,500, and those aged 50 or above can make “catch-up” contributions, up to an additional $7,500 per year. The tota...
The Thrift Savings Plan works in a similar manner to aTraditional IRA. That is, you make contributions which are tax deferred – meaning you get a tax deduction in the year you make the contribution, your income in your TSP account grows without the drag of taxes until you reach retirement...
Retirement plans FAQs on designated Roth accounts, Retrieved 02/08/2025 ^ Internal Revenue Service. Retirement Topics - IRA Contribution Limits, Retrieved 02/08/2025 ^ Augusta Precious Metals. Are there minimum and maximum orders?, Retrieved 02/08/2025 ^ BBB. Augusta Precious Metals, Retrieved ...
The differences between the two plans do not end with how they are taxed. Consider the following to help aid in your decision as to which plan is best for your financial needs. Contribution Limits: You cancontribute up to $23,000 per year in the TSP for 2025(or $30,500 if you’re ...
- Contribution allocation graphs - Future predicted growth - Capability to track general purpose and residential loans - Capability to track TSP transactions - Calculation of rate of return, Compound Annual Growth Rate (CAGR), PIP, and other helpful metrics for various date ranges ...
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 ...
Another benefit adopted from the Roth 401(k) plan is the absence of income limitations for plan participation. All Thrift Savings Plan participants can contribute to the Roth TSP regardless of how much money they make. This differs fromRoth IRA contribution limits, which are tied to income. ...
Keep in mind that there are annually established contribution limits for TSP accounts. In 2024, individuals can contribute up to $23,000 to their TSP accounts, and participants who are aged 50 and older can contribute an additional $7,500 (a “catch-up” contribution). ...