More Saving Opportunities for Retirement: TSP Contribution Limits Going Up

By on October 24, 2011 in Current Events with 38 Comments

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.

© 2016 Ian Smith. All rights reserved. This article may not be reproduced without express written consent from Ian Smith.

Tags:

About the Author

Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce. Ian also has a background in web development and does the technical work for the FedSmith.com web site and its sibling sites.

Top