Does TSP offer a match?

In addition, if you elect to contribute a portion of your own pay into your TSP account, your service will match a portion of it. This is called a Service Matching Contribution. For every dollar you contribute up to 3% of your basic pay, your service will also contribute a dollar.

How much does the federal government match your TSP?

As a FERS or BRS participant, you receive matching contributions on the first 5% of pay that you contribute each pay period. The first 3% of pay that you contribute will be matched dollar-for-dollar; the next 2% will be matched at 50 cents on the dollar. Contributions above 5% of your pay will not be matched.

Does the federal government match Roth TSP contributions?

1. Your portion of TSP contributions can go into the Roth TSP, but all matching contributions from the government are put in the traditional TSP. The 2021 TSP Contribution limit is $19,500 ($26,000 if you’re age 50+), and you can contribute any percentage of that into the Roth TSP.

What is the maximum TSP matching?

If you do pay into the TSP, the government will match your contribution, up to a maximum of 5% of your basic pay.

Does TSP match catch-up?

If you’re eligible for an agency or service match, contributions spilling over toward the catch-up limit will qualify for the match1 on up to 5% of your salary. You may start, stop, or change your contributions at any time.

What is the difference between TSP basic and TSP matching?

As a FERS employee, you can receive 2 types of agency contributions to your TSP account, which together can equal as much as 5 percent of your basic pay. Each dollar of the next 2% of basic pay will be matched 50 cents on the dollar. You are immediately vested in the matching contributions.

Can I contribute to both TSP and Roth TSP?

An employee can contribute to both the traditional TSP and to the Roth TSP during 2021. Total contributions cannot exceed $19,500 for employees younger than 50 during 2019 and $26,000 for employees over age 49 during 2021.

Does government match Roth?

That’s like feds under the Federal Employees Retirement System, who can get a 5 percent match to their Thrift Savings Plan account. Even luckier are those who have a Roth option as part of their 401(k) plan, like the government.

Can you contribute to TSP after retirement?

You can continue to enjoy tax-deferred earnings and low administrative expenses. Once you separate, you will no longer be able to make employee contributions. However, you can transfer money into your TSP account from IRAs (although not from Roth IRAs) and eligible employer plans.