Web16 dec. 2024 · The Federal Retirement Thrift Investment Board (FRTIB), the Agency that administers the Thrift Savings Plan (TSP), will switch to the spillover method for catch-up contributions beginning with the first pay period of tax year 2024. For the National Finance Center’s (NFC) purposes, this will be effective Pay Period (PP) 26, 2024. WebIn addition to regular TSP contributions, you may be eligible to enroll in TSP catch-up contributions up to an additional $6,500. In 2024, the TSP will utilize the Spillover …
2024 TSP Contributions and TSP Catch-Up Contributions Effective Date ...
WebTSP Catch-up – In addition to making regular TSP contributions, you may also make TSP Catch-up contributions, if you are age 50 or older (or will be turning age 50 in 2024). Beginning January 1, 2024, the Federal Retirement Thrift Investment Board (FRTIB) will implement a new method for TSP Catch-up contributions called the “spillover” method. Web27 mei 2024 · The current age is 72, but that would increase to 73 on Jan. 1, 2024, and then to 74 in 2029, and 75 in 2032. Additionally, the bill would increase the annual limit on catch-up contributions from ... diamond car warranty
New Method for Making TSP Catch-Up Contributions in …
WebThe maximum "catch-up contribution" in 2024 is $6,500. If you entered a valid catch-up contribution amount, this amount will be included in the overall TSP balance for purposes of computing the estimated TSP annuity. WebThe Thrift Savings Plan (TSP) is a defined contribution plan for United States civil service employees and retirees as well as for members of the uniformed services.As of December 31, 2024, TSP has approximately 6.5 million participants (of which approximately 3.9 million are actively participating through payroll deductions), and more than $827.2 billion in … Web2 nov. 2024 · Just add any contributions toward the catch-up limit in the same place as your other TSP contributions. What to know If you’re eligible for an agency or service match , … circor weihai