TSP Contribution Limit Reminder
Employees covered by the Federal Employees Retirement System (FERS), including FERS-RAE (Revised Annuity Employee) and FERS-FRAE (Further Revised Annuity Employee), who reach their Thrift Savings Plan (TSP) annual contribution limit before the end of the tax year will miss receiving agency matching contributions.
TSP contributions—including agency matching contributions—for FERS-covered employees will stop when the annual limit is reached. To maximize receipt of agency contributions, FERS covered employees should continue investing at least five percent of salary—the amount that produces the maximum agency contribution—during every pay period of the tax year. (Employees covered by the Civil Service Retirement System receive no agency contributions to the TSP and are not affected by this issue.)
The annual contribution limit for participants who are under age 50 is $22,500 for tax year 2023. If you are covered under FERS and have been contributing more than $866 per pay period to the TSP since the beginning of the tax year, you may be close to losing agency matching contributions because your TSP contributions will stop when they reach $22,500.
Employees who are at least age 50 or turning age 50 in 2023 are eligible to contribute an additional $7,500 as catch-up contributions. This means the 2023 tax year contribution limit for participants in this category is $30,000 ($22,500 + $7,500 catch-up). If you are covered under FERS and have been contributing more than $1,154 per pay period to the TSP since the beginning of the tax year, you may be close to losing agency matching contributions because your TSP contributions will stop when they reach $30,000.
The TSP "How Much Can I Contribute" Calculator can assist employees in calculating the TSP contributions needed to maximize agency contributions for the tax year. Employees can also read more about the TSP annual contribution limit at https://www.tsp.gov/publications/tspfs07.pdf.
Employees are required to use their agency’s self-service system to make TSP contribution elections/changes. NARA employees should use Employee Express and employees of all other ARC clients should use the Employee Personal Page (EPP).
For TSP Inquiries:
- NARA employees can email NARAHR@fiscal.treasury.gov or call 304-480-8998.
- CFPB employees can email CFPBHROps@fiscal.treasury.gov or call 304-480-8000 (option 4).
- All other employees can email Benefits@fiscal.treasury.gov or call 866-868-4357.