Ask The Experts: Money Matters

By Mike Miles

Income and Roth TSP limitations

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Q. Are there income limitations on a Roth TSP? For example, can a single person with an income greater than $127,000 contribute to a Roth TSP (in 2013)?

A. The contributions are not affected by the size of your income.

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TSP contribution limits

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Q: I have not yet seen what the 2011 Thrift Savings Plan contribution limits will be, to include catch-up contribution limits. Is there anything in the wind to increase the amounts from the 2010 limits?

A: The limits are set by law and increase with inflation in $1,000 increments. Given the low overall rate of recent inflation, I wouldn’t expect an increase in the coming year.

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TSP contribution limits

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Q: I like to make plans for my savings and would like to know whether the contribution limits will be increasing for the Thrift Savings Plan and the TSP Catch-up contribution plan for 2011 and 2012.

A: The limits are indexed to inflation, and we won’t know whether they’ll be increasing until the inflation figures are in.

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