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...
To be eligible for aTSP, you must be a federal government employee, a member of the military or other uniformed services, or a civilian in certain other categories of government service. The following TSPcontribution limitsapply for 2024: ...
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...
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...
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 ...
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). ...
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...