Bell is Tolling for TSP Catch-up Elections

Active employees who are age 50 or above, or who will be before the end of the year, and who wish to make "catch-up" contributions to the TSP still have time to make those contributions before the end of the year, but time is running out. Catch-ups are allowed once an individual has hit the annual dollar TSP limit ($15,500 this year) or is on an investing pace to do so by the end of the year. The maximum allowable catch-up contribution is $5,000 this year. The special elections are made by filing a form TSP-1-C; the contributions must be made from payroll withholding, so to take the most advantage of the benefit with only a few pay periods left in the year, investors would have to order a large biweekly withholding, assuming they could live on the reduced income for that period.