TSP 2018 contribution reminder

Credit to my son for forwarding this to me yesterday. Even though we have spoken about this, it is time to make your adjustment. 

 

TSP Contribution Limits for 2018

 

For Calendar Year 2018, employees will receive 27 pay checks instead of 26. Therefore instead of contributing $712.00 as previously advised for the maximum amount for TSP, your bi-weekly contribution should be $686.00. Please make the appropriate change by the deadline below.

 

To make changes to your Thrift Savings Plan (TSP) Traditional or Roth Contributions, or to elect or continue TSP Catch-up Contributions, please log into My Employee Personal Page at www.nfc.usda.gov/epps. Your changes must be submitted no later than December 9, 2017, with an effective date of December 10, 2017, pay period 25, to ensure it is effective the first pay period in 2018.

 

The combined annual calendar year 2018 TSP Contribution limit for Traditional (pre-tax) and Roth (after-tax) is $18,500.  If you want to contribute the maximum amount and receive the Matching Contributions, your per pay period amount is $686.00 . You may also choose to contribute a percentage, up to the maximum amount. If you are covered by FERS and you reach the maximum amount allowed prior to the end of the calendar year, you will not receive the Matching Contributions for the remaining pay periods. You will still receive the Agency Automatic 1% Contribution. It’s best to have equal contributions for each pay period.

 

In addition to the $18,500, you may also participate in TSP Catch-up if you will be age 50 or older in 2018. The annual catch-up contribution limit is $6,000, your pay period amount is $231.00.

 

Note: If you elected Catch-up Contributions in 2017 and would like to continue the contributions into 2018, you MUST make a new election.