Also Examine TSP Investments

This also is a good time to examine investments in the TSP. The maximum dollar limits haven’t changed from 2013—the limit remains $17,500 for regular contributions, with persons who will be age 50 or older by the end of this year eligible to make an additional $5,500 investment once they already have invested the regular maximum, or if they are on an investing pace to do so by the end of the calendar year. Employees may invest by percentage of salary or by dollar amount per pay period. Regular investments continue unless changed year-to-year. However, a new catch-up election must be made each year, for those eligible and wishing to make such investments. For both limits, the maximum applies to the total of investments made in traditional status, Roth status, or both, for those making both types.