Ins and Outs of Catch-Up Contributions

The form to use for a catch-up contribution is the TSP-1-C. When you submit your election you will elect a whole dollar amount to be withheld each pay period; take care not to specify an amount that will exceed your net income per pay period or no TSP contributions (either catch-up or regular) will be withheld. If you wish to divide your contributions evenly over the remainder of the year, divide $4,000 by the number of pay dates remaining. Check with your payroll office regarding the effective date of the election and how many pay periods will be left in the year at that point. Catch-up contributions stop automatically once the annual maximum has been reached or as of the last pay date in the year, whichever comes first.