By Mike Miles
October 26th, 2011 | Uncategorized
Q. I read that the IRS changed the 2012 maximum contribution to 401(k)s to$17,000 from $16,500. However, I haven’t found any update on the TSP website or the Federal Times saying whether this will also apply to TSP contributions. Have you heard any news on this?
Matthew Vogel Says:
October 30th, 2011 at 6:18 am
In relation to this, I was told the maximum for Puerto Rico has increased to the CONUS level from last year’s $9,000, but the TSP section on my Employee Personal Page (USDA’s pay and benefit site) still says $9,000. Which is correct?
Future Retiree Says:
November 7th, 2011 at 12:27 pm
Plan News was updated on November 2, 2011. Internal Revenue Code (IRC) 2012 contribution limits — You can contribute up to $17,000 in tax-deferred money to the TSP in 2012. If you are a member of the uniformed services, you can contribute a total of $50,000 in tax-deferred and tax-exempt money. If you will be age 50 or over in 2012, you can also contribute up to $5,500 in additional “catch-up” contributions, as long as your regular contributions for the year are expected to reach the $17,000 limit. (The catch-up contribution limit has not changed from 2011.