As predicted back in august, the 2024 tsp contribution limit is set to increase next year by $500, going from $22,500 to an even $23,000. This comes out to $885/pay period (final deduction will be automatically limited to $875).
The irs has raised the standard investment limit for the tsp and other 401 (k) type retirement savings plans to $23,000 for 2024, from the current $22,500. For the year 2024, the new maximum amount for funding your tsp (or any 401(k), 403b, 457, etc.) is now $23,000, up from $22,500, for those under age 50.
This Is Known As The Irs Elective Deferral Limit.
This comes out to $885/pay period (final deduction will be automatically limited to $875).
As Predicted Back In August, The 2024 Tsp Contribution Limit Is Set To Increase Next Year By $500, Going From $22,500 To An Even $23,000.
The irs has raised the standard investment limit for the tsp and other 401 (k) type retirement savings plans to $23,000 for 2024, from the current $22,500.
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The Contribution Limit Is $23,000 And There Are 26 Pay Dates In The Year.
This allows federal employees aged 50 and up to make this extra contribution to the tsp.
This Comes Out To $885/Pay Period (Final Deduction Will Be Automatically Limited To $875).
Starting in 2024, the contribution limit for tsp participants will increase to $23,000, up $500 from 2023.
