Q. I’m a CSRS employee with an active TSP account, but I have not contributed to my account through payroll deductions in several years. I’m over 60 years old and eligible for catch-up contributions. Can I make a one-time cash contribution this year and, if so, what is the maximum amount? I’d like to move funds from a low-paying IRA savings account into TSP for better returns.
A. You may not make a lump-sum cash contribution to your TSP account. Your options are payroll deferral or transfer of qualified funds from an IRA account.
