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Limit Year Bulletin: easy document editing

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The new maximum contribution rates in 2020 will be: $19,500 for regular TSP or 401(k) contributions (up from $19,000 in 2019) $6,500 for catch-up contributions for those 50 and over (up from $6,000 in 2019) $57,000 annual limit for tax-free combat zone pay (up from $56,000 in 2019)
The annual contribution limit in 2020 for the TSP will be $19,500, up from $19,000 in 2019, a 2.6% increase. This limit also applies to 401(k), 403(b), and most 457 plans. The catch-up contribution limit for employees aged 50 and over whom participate in these plans is increased from $6,000 to $6,500.
To receive the maximum Agency or Service Matching Contributions, you must contribute 5% of your basic pay each pay period.
The 2020 TSP contribution limit for employee deferrals is now $19,500, up from $19,000 in 2019 (and $18,500 in 2018). The catch-up contributions also receive an increase to $6,500 per year. (Catch-up contributions are only available to persons aged 50 and up).
The 2020 IRS annual limit for regular TSP contributions will increase to $19,500. If you are covered by the Federal Employees Retirement System (FEES, PERSONAE, or FERS-FRAE), you will lose valuable matching Agency TSP contributions, if you reach the annual limit before the end of the calendar year.
Thrift Savings Plan Basics The minimum percentage for TSP contributions is 1 percent and the maximum is 100 percent. However, there is a maximum TSP contribution dollar amount mandated by Internal Revenue Code. This IRC limit for TSP contributions is $19,500.
2019 Thrift Savings Plan Contribution Limits The maximum amount you can contribute to a TSP account for this year is $19,000, an increase of $500 from 2018. If you're 50 or older, your plan may allow you to contribute an additional $6,000 as a catch-up contribution, bringing your 2019 TSP contribution total to $25,000.
The first 3% is matched dollar-for-dollar by your agency or service. The next 2% is matched at 50 cents on the dollar. This means that when you contribute 5% of your basic pay, your agency or service contributes an amount equal to 4% of your basic pay to your TSP account.

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