The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services. If you are covered under the Federal Employees Retirement System (FERS, FERS-RAE, and FERS-FRAE), contributing to the TSP is extremely important, as the TSP will be a very large part of your retirement income. To learn about the importance of contributing to the TSP, take a few minutes to view the following short, informative videos:
- How the TSP Fits into the Federal Employees Retirement System
- How Can Compound Earnings Work For Me?
The 2023 IRS annual contribution limit for regular TSP contributions is $22,500. In addition to regular TSP contributions, you may also make TSP Catch-up contributions, if you meet certain criteria. The 2023 IRS annual limit for TSP Catch-up remains at $7,500. You may start, stop, or change your TSP contributions at any time by using myPay For additional detailed information, go here.