TSP contribution limit increases in 2013
Federal employees can contribute a maximum of $17,500 annually to their Thrift Savings Plan next year — up from the $17,000 limit this year, according to t...
Federal employees can contribute a maximum of $17,500 annually to their Thrift Savings Plan next year — up from the $17,000 limit this year, according to the IRS.
The increase is due to a cost-of-living adjustment, which is 1.7 percent next year.
The catch-up contribution limit for employees 50 and over will remain $5,500.
This year feds could contribute post-tax dollars to a Roth-style TSP. The combined contributions to both the traditional and Roth TSP cannot exceed the $17,500 limit next year.
The TSP is federal employees’ 401(k)-style retirement plan, with about 4.6 million participants.
RELATED STORIES
Fed retirees to see 1.7 percent COLA increase in 2013
5 things feds should know about Roth TSP
Copyright © 2024 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.
