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More Saving Opportunities for Retirement: TSP Contribution Limits Going Up

by Ian Smith |

The IRS recently released cost of living adjustments for pension plans and other retirement related plans. Federal retirees under CSRS likely have heard by now about the 3.6% COLA for retirees who have had benefits for at least one year. But the IRS announcement also included important information for TSP participants.

The annual contribution limit for TSP participants has increased to $17,000 per year from $16,500. It applies to private sector 401(k) plans as well. The catch-up contribution limit for those aged 50 and over remains unchanged at $5,500.

Here is how the annual contribution limits look going back to 2007:

Year Annual Contribution Limit Max Catch-Up Contribution Limit
2007 $15,500 $5000
2008 $15,500 $5000
2009 $16,500 $5500
2010 $16,500 $5500
2011 $16,500 $5500
2012 $17,000 $5500

For more information on regular versus catch-up contributions as well as how much the government will match to your contributions, visit the TSP web site.

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About the Author

Photo of Ian Smith

Ian Smith

Ian Smith is one of the founders of FedSmith.com. He writes about current topics that impact federal employees.

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Daily TSP Rates

April 23, 2014

Fund Last Change YTD
L Income 17.0052 -0.0039 +1.12%
L 2020 22.1247 -0.0201 +1.51%
L 2030 23.8515 -0.0302 +1.67%
L 2040 25.2749 -0.0396 +1.78%
L 2050 14.3237 -0.0259 +1.85%
G Fund 14.3916 +0.0010 +0.73%
F Fund 16.1682 +0.0360 +2.71%
C Fund 24.3784 -0.0506 +2.11%
S Fund 34.1199 -0.1856 +1.33%
I Fund 25.9714 -0.0004 +1.59%
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