Q: I like to make plans for my savings and would like to know whether the contribution limits will be increasing for the Thrift Savings Plan and the TSP Catch-up contribution plan for 2011 and 2012.
A: The limits are indexed to inflation, and we won’t know whether they’ll be increasing until the inflation figures are in.
2 Comments
When are inflation figures released? October?
I retired from the Department of State on 5/31/2010 and have not yet received :
1) SF-50 that reflects the retirement
2) Nor have I received a monthly annuity.
Prior to my retirement, I was awarded a retro-active promotion as part of an EEO settlement agreement. The effective date of the retro promotion is 1/1/2009 – 5/31/10. However, to date I have not received a SF-50 to reflect the promotion and pay period adjustments. What I did receive from the Departement was a letter that stated that I was paid a lump sum gross payment for the retro-active promotion in the amount of $12,697.68. My questions are as follows:
1) What is the federal standard time frame for receiving the first annuity payment?
2) What is the federal standard time frame for receiving SF-50s personnel actions?
3) What legal authority does the agency have that justified paying a lump sum payment instead of a pay period adjustment that would have allowed me to contribute up to 90% of basic pay to TSP provided that that the annual deferred TSP contributrion did not exceed $16,500?
Thank you,
Maurice