Planning End-of-Year TSP Contributions

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By on December 9, 2014 in Q&A with 7 Comments

Q: I’m looking at the Calendar coming up for 2015 and 2016 and am trying to plan my TSP contributions accordingly. 1-JAN-16 is a Friday and nominally a Pay Day. But given it’s a holiday, will the payday be moved to 31-DEC-15? Essentially my question is, in which year will we have 27 pay periods? In 2015 or 2016?

A: Check with your HR folks as to how many pay days you have in 2015 and 2016. There is no hard and fast rule as to what days are paydays or what happens if a payday falls on a holiday, though most agencies will move up a payday if it falls on a holiday. Not all agencies have Friday paydays like your agency (my former agency paid on Thursdays). If others read this response on the fedsmith blogs, they should not assume it will apply to them. They would be well advised to check with their HR offices to be sure of the number of paydays in any given year.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at [email protected] to discuss schedules and costs.

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About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.