- Once you exceed the elective deferral or annual addition limit, your contributions will spill over and automatically start counting toward the catch-up limit.
- Contributions spilling over toward the catch-up limit will qualify for the match on up to 5% of your salary.
- Separate catch-up elections are no longer required. Your election will carry over each year unless you submit a new election or leave federal service.
- You may start, stop, or change your contributions at any time.
Starting in the year you turn 50, you become eligible to save even more by contributing toward the catch-up limit.
Here’s what you should know:
If you are a uniformed services member and enter a combat zone, your contributions toward the catch-up limit must be Roth. (The TSP cannot accept traditional tax-exempt contributions toward the catch-up limit.) You also cannot contribute toward the catch-up limit from incentive pay, special pay, or bonus pay.
If you are contributing to both a civilian and uniformed services account, the limits apply to the total you contribute to both accounts during the year.
To contribute toward the catch-up limit, use Form TSP-1, Election Form (or Form TSP-U-1 for uniformed services), or your agency’s or service’s electronic system (e,g., Employee Express, EBIS, LiteBlue, myPay, or NFC Employee Personal Page). You can add any contributions toward the catch-up limit in the same place as your other TSP contributions. Remember, separate catch-up elections are not required.