If you entered a new TSP election into myPay for 2021, you should check myPay to confirm your election. Additionally, you should view your Leave and Earnings Statement (LES) each pay period to confirm your TSP deductions. You can access your LES in myPay. After an election is entered into myPay, it will be effective at the beginning of the next pay period, and it will take 1-2 pay periods before it is visible in myPay and on your LES. Only one TSP election can be entered into myPay during a pay period.
The TSP annual contribution limits for 2021 remain at $19,500 for regular TSP, and $6,500 for TSP Catch-up. For 2021, there is also a new “spillover” method. Due to the “spillover,” only one TSP entry is needed for 2021. You are no longer required to enter a separate election for TSP Catch-up. Spillover helps to simplify the TSP Catch-up process and will not impact the Agency Matching contributions. For additional detailed information.