TSP Contribution Limits Unchanged in 2016

October 22, 2015 2:11 PM , Updated July 7, 2019 10:42 AM
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The Internal Revenue Service has announced the annual contribution limits for the Thrift Savings Plan and other similar retirement/pension plan contributions for 2016, most of which are unchanged from 2015.

The annual contribution limit for the Thrift Savings Plan will stay at $18,000 per year. This amount also applies to 401(k), 403(b), and most 457 plans.

The catch-up contribution limit for employees aged 50 and over who participate in the TSP also will remain unchanged at $6,000.

The table below shows the progression of recent historical contribution limits to the TSP.

Year Annual Contribution Limit Max Catch-Up Contribution Limit
2007 $15,500 $5,000
2008 $15,500 $5,000
2009 $16,500 $5,500
2010 $16,500 $5,500
2011 $16,500 $5,500
2012 $17,000 $5,500
2013 $17,500 $5,500
2014 $17,500 $5,500
2015 $18,000 $6,000
2016 $18,000 $6,000

The contribution limits for IRAs will also remain unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.

The adjusted gross income (AGI) phase-out range in 2016 for taxpayers making contributions to a Roth IRA is $184,000 to $194,000 for married couples filing jointly, up from $183,000 to $193,000. For singles and heads of household, the income phase-out range is $117,000 to $132,000, up from $116,000 to $131,000.

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Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.