Browsing: TSP contribution

Q. I was forced to liquidate almost all of my savings, stocks, etc., five years ago to assist a family member with some much-needed medical financial assistance. I am 54 years old, and plan on working for an additional 14 years. I’m currently putting $350/pay period into TSP with contribution allocations in L2030 (10%), C Fund (45%) and S Fund (45%). Balances are $13,662, $2,730 and $10,986, respectively. Every opportunity I get, I increase my contribution. Here’s my question: Based on the short amount of time I have left to retire (14 years), is my allocation percentage into the three funds…

Q. I was told that I can still contribute to TSP after I retire from the military at 20 years. However, when trying to clarify that information I stumbled upon your blog and saw this Q&A:   Q: I enlisted in the Marine Corps and signed up for the Thrift Savings Plan in 2004. I was severely injured in Iraq in 2005 and was retired from active service in 2006. I am now receiving Combat Related Special Compensation, Social Security and my compensation from the Veterans Administration. Can I continue to add to my TSP account as a military retiree?…

Q. I’ve settled a case against the government and would like to apply some of the proceeds into my TSP account. I’m over 50. Other than making a “make up” contribution, can I use 415c to make an additional annual contribution that is the difference between $54,000 less my elective deferral, matching contributions, etc?

Q. I am a current federal employee. My agency has advised that there will be 27 pay periods in 2018 and suggested adjusting our TSP to ensure that employees do not miss out on any matching. However, I have looked at the NFC Pay Period calendar and while there are in fact 27 2018 EFT dates, there are only 26 official pay dates in 2018. The first check to be received in the calendar year is PP25 from 2017 and the official pay date is Mon., January 4, 2018. The last check to be received in the calendar year is…

Q. Besides the $18,500 and $5,000 “catch-up” (if at least age 50) 2018 contribution maximums to the TSP 403(b), can one contribute money beyond these two amounts in the form of after-tax non-matched contributions? At the TSP website it states as follows for the “Annual Addition Limit” of $55,000 per IRC Section 415(c): “An additional limit imposed on the total amount of all contributions made on behalf of an employee in a calendar year. This limit is per employer and includes employee contributions (tax-deferred, after-tax, and tax-exempt), Agency/Service Automatic (1%) Contributions, and Matching Contributions. For 415(c) purposes, working for multiple Federal agencies or…

Q. I am considering taking a position where I would be a re-employed annuitant and covered under a dual comp wavier. As my income looks like it would be over the limit for an IRA, what are the best ways I could continue to save for retirement while I am a reemployed annuitant and then roll those savings into the TSP?

Q. I am a federal employee working for DCMA. I plan on retiring in May 2018. The maximum allowable TSP contribution amount for 2018 is $18,500. The maximum allowable TSP contribution for TSP catch-up is $6,000. Is there a limit as to what I can contribute per pay period during these final months of employment, as long all of my mandatory deductions (FEHB, life insurance, Medicare, FERS, etc.) are covered, and as long as I don’t exceed the TSP limits of $18,500 or $6,000? I’m thinking of living off of my non-TSP savings till I retire in May 2018, so I…

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