Time for Catch-Ups Running Out

Employees who are age 50 or above-or who will turn 50 before the end of the year-still have time to make “catch-up” contributions to the Thrift Savings Plan, although with only a few pay periods left in the year, the time is fast running out. Catch-up contributions of up to $4,000 over and above the regular investment limits are available in 2005 to those eligible persons and must be elected separately from regular TSP investments. The limit rises to $5,000 in 2006, although catch-up elections do not roll over from one year to the next; a new election must be made each year.