Fedweek

Catch-up contributions are allowed only for those who are in a pay status (that is, retirees and those on leave without pay are excluded) and who are investing either the maximum TSP contribution percentage or an amount which will result in his or her reaching the elective deferral limit by the end of the year. The person must be at least 50 years old in the year the catch-up contributions are made and must not be in the six-month non-contribution period following the receipt of a financial hardship in-service withdrawal.