Max Tsp Contribution 2025 With Catch Up Limit. 2024 401k Contribution Maximum Bili Mariya As you plan your budget for 2025, these are the TSP contribution limits and the maximum amounts you can contribute each pay period. The rules are particularly advantageous for individuals turning ages 60-63 in 2025
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Effective January 1, 2025, the SECURE Act 2.0, passed in 2022, increases the catch-up contribution limit for TSP participants turning ages 60, 61, 62, or 63 in the calendar year to either $10,000 or 50 percent more than the regular catch-up contribution limit, whichever is greater To contribute the 2025 maximum annual amount for both regular TSP and TSP Catch-up, you should enter one election amount into myPay during December 1 - 7, 2024,as follows:
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As a result of Section 109 of SECURE Act 2.0, the IRC § 414(v) catch-up contribution limit is $11,250 for participants turning age 60, 61, 62, or 63 in 2025. For more information on catch-up contributions and the spillover method please see TSP Bulletin 20-1 Spillover Method for Catch-Up Contributions to the Thrift Savings Plan - UPDATE you can make the most of the increased TSP contribution.
401k 2025 Max Contribution Amount Aurora Cooper. New in 2025: higher catch-up limit for ages 60, 61, 62, and 63 Beginning January 1, 2025, participants age 60, 61, 62, and 63 who are eligible for catch-up contributions will have.
2023 TSP Contributions and Effective Date Chart.pdf DocDroid. As you plan your budget for 2025, these are the TSP contribution limits and the maximum amounts you can contribute each pay period. Thrift Savings Plan (TSP) Federal and uniformed services employees only; Employee contributions: up to $23,500 (under age 50), plus catch-ups ($7,500 at 50+, $11,250 for ages 60-63)