Ask The Experts: Money Matters

By Mike Miles

TSP contributions in retirement year

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Q. If my retirement date is in May, would I be allowed to contribute the maximum Thrift Savings Plan and catch-up amounts ($17,500 and $5,500) up to my retirement date in May and still receive matching up to 5 percent of basic pay. If not, what are the rules?

A. You can contribute up to your entire paycheck and receive the automatic 1 percent agency contribution, but the matching contributions will be limited to 4 percent of your pay, each pay period.

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