Federal Employees News Digest
TSP contribution limits unchanged for 2017
- By FEND Staff
- Dec 12, 2016
The annual contribution limit for the Thrift Savings Plan will remain at $18,000 per year in 2017.
In a bulletin posted December 5 on the fund’s website, TSP said the Internal Revenue Service also announced that the catch-up contribution limit will also remain at $6,000 for 2017.
The bulletin reminds participants that once the limits are reached, all contributions will be stopped and any requests by an agency to make additional payments will be rejected.
“This means that FERS participants who reach the limit before the final pay date of the year will also miss out on matching contributions for the rest of the year,” the bulletin notes, adding, “Agencies should make FERS employees aware of what happens when they reach the elective deferral limit.“
A historical reference of limits for previous years also is available on the fund’s site.
Read the bulletin here: https://www.tsp.gov/PDF/bulletins/16-02.html