HomeNewsArticle Display

Thrift Savings Plan limits increase for 2015

JOINT BASE SAN ANTONIO-RANDOLPH, Texas (AFNS) -- The Internal Revenue Service has announced increased limits for 2015 Thrift Savings Plan contributions.

"The maximum contribution amount for traditional and/or Roth TSP will be $18,000; this is an increase from the elective deferral limits of 2013 and 2014, which was $17,500," said Erica Cathro, an AFPC Human Resources Specialist. "Additionally, the maximum amount of 2015 catch-up contributions is $6,000, which is an increase from the $5,500 elective deferral limit for calendar years 2013 and 2014."

Catch-up contributions are additional tax-deferred contributions and are separate from regular TSP contributions. For those who are eligible, catch-up contributions provide a way for individuals to secure their retirement, especially for those who begin investing later in their careers.

To be eligible for catch-up contributions, civilian and military employees must be 50 or older in the year in which the first deduction from pay occurs. They must also be in a pay status and be able to certify they will make, or have made, the maximum "regular" employee contributions of $18,000 to a TSP or other eligible account by the end of 2015.

TSP contributions stop when an employee's contributions reach the annual maximum limit and will automatically resume the next tax year if the employee is still enrolled in TSP.

"This is especially important to employees under the Federal Employees Retirement System because once employee contributions stop, agency matching contributions will also stop," Cathro said.

For detailed information on TSP and other personnel issues, go to myPers, select "Search All Components" from the drop down menu and enter knowledge article number "23799" in the search window. Air Force retirees who do not have a myPers account can request one at www.retirees.af.mil/shared/media/document/AFD-120510-068.pdf.

Engage

Facebook Twitter
RT @AirMobilityCmd: The four fans of freedom are blowing strong as a U.S Air Force C-130J Hercules from Little Rock Air Force Base, Arkansa…
RT @ActingSecAF: Kudos to @AirForceAssoc on #ASC19 👏🏻 What a wonderful professional opportunity for #Airmen & industry to expand our compe…
.@ACC_Commander designates the 16th Air Force as a new information warfare numbered #AirForce at #ASC19. As… https://t.co/LMiMJ3rWNO
RT @AstroHague: Thank you to the Airmen across the globe who make the human exploration of space possible. Wishing the @usairforce a happy…
RT @Hanscom_AFB: “The @usairforce is leading the charge across @DeptofDefense. No one else in #government has as much ... of this software…
RT @PACAF: Commanders from Australia, Indonesia, Republic of Korea, Philippines, Thailand and the U.S. met for the 2019 Logistics and Safet…
To all those who helped establish the long blue line past, present and future, we honor you and we remember with th… https://t.co/teymF7proy
#ASC19: "We’re all in this together trying to make your service to country the best experience on the planet. We w… https://t.co/rdbCDBJr2c
#VCSAF Gen. Stephen Wilson speaks on what makes the #AirForce unique. #ASC19 https://t.co/gStwUZoaQC
RT @AFSpace: @AstroHague takes #aimhigh to the extreme by celebrating the @usairforce's birthday from the @Space_Station! #FrontiersofBlue
RT @VP: Happy 72nd birthday to the @usairforce! On behalf of a grateful nation, thank you to the amazing men and women of the Air Force for…
#ASC19: There's a challenge to maintain warfighting capabilities until new bombers and missiles arrive. Hear more f… https://t.co/SWB3VjNod8
#ASC19: Want to know which three acquisition trends #AirForce acquisition experts believe should "go viral?" Click… https://t.co/hsiH3oQXOX
RT @NSAGov: Happy Birthday to the @usairforce! For 72 years you've taught us to aim high. We look forward to continuing to fly, fight, and…
RT @AFGlobalStrike: The Air Force is celebrating 72 years of service, so here is 72 seconds of Global Strike Command! #USAFBday #ThisIs72 h…
Moments like this one between @GenDaveGoldfein and retired Col. Charles McGee remind us of where we've been as we f… https://t.co/LlhJhfdHQb
ICYMI: @ActingSecAF Matthew Donovan announced Sept. 16 at #ASC19 that the B-21 Raider is being produced in Northrop… https://t.co/XTsOnLwrTw
ICYMI: @ActingSecAF Matthew P. Donovan announced on Sept. 16 at #ASC19 that the Air Force’s all-new advanced traine… https://t.co/9MULuV7vFN
RT @USNavy: To be young again... #HappyBirthday, @usairforce! Congrats on 72 years playing a key role in the National Defense Strategy. He…