TSP Open Season Coming Up

One of the Thrift Savings Plan’s twice-yearly open seasons will begin May 15 and run through July 31, offering federal and postal employees who are not currently participating in the program an opportunity to sign up and offering current participants the option to change the amount of their ongoing investments. Employees under the FERS retirement program this year may invest up to 12 percent of biweekly salary and those under the CSRS system may invest up to 7 percent, in both cases subject to an IRS dollar maximum-which currently effectively applies only to FERS enrollees-of $11,000. Highly-paid FERS enrollees can use the opportunity to adjust their ongoing investments if necessary to ensure that they can continue to invest throughout the calendar year; if they hit the dollar limit before the end of the year, their own investments, and the government’s matching contributions, are cut off until the beginning of the next calendar year.