Additionally, while the annual deferral limits for the TSP are $22,500 in 2023 (plus a $7,500 catch-up contribution for participants age 50 and older),the limit increases to $66,000(for 2023) during the year of
The TSP has processes that should automatically stop contributions once you reach your annual contribution limit. The Thrift Savings Plan should refund the extra contributions if you accidentally contribute too much. That said, you might find that it is a manual process, or there may be a delay ...
If you’re receiving payments from a TSP under court or IRS order, your index fund accounts must have enough money in them to cover it. If the funds are insufficient, the Board will make an automatic “forced transfer” from your sweep account or mutual fund investments back to the index ...