The Thrift Savings Plan (TSP) contribution limits have been announced for 2023. The 2023 IRS annual limit for regular TSP contributions is $22,500, and the TSP Catch-up annual contributions limit is $7,500. The Catch-up contributions may be made in addition to regular TSP contributions, if you are age 50 or older (or will be turning age 50 in 2023).
If you are eligible to make TSP Catch-up contributions, any contributions you make beyond the $22,500 for regular TSP will automatically start counting toward the Catch-up limit. This is known as “spillover,” which simplified the TSP Catch-up process. Because of “spillover,” you no longer enter a separate TSP Catch-up election.
For detailed information on making your TSP election for 2023, view the TSP announcement.