FYI: The standard limit on investments will rise from $18,500 to $19,000 in 2019 in the Thrift Savings Plan for federal employees along with similar retirement savings plans such as 401(k)s, the Internal Revenue Service announced Thursday.
A separate limit on “catch-up contributions” allowed for those ages 50 and older, meanwhile, will remain $6,000.
Almost all federal employees have a TSP account, because one is established automatically for everyone hired into the Federal Employees Retirement System, which applies to those hired since 1983.
Of the nearly 2.6 million — including U.S. Postal Service workers — under that retirement program, nearly 180,000, about 7 percent, hit the investment maximum in 2017 of $18,000, TSP figures show. Of those, 122,000 were 50 or older, and of that group, nearly 79,000 invested the additional maximum $6,000.
Regards,
Ted
https://www.washingtonpost.com/politics/2018/11/02/tsp-investment-limit-increase/?utm_term=.2ad242d7c75b
Comments
https://forbes.com/sites/ashleaebeling/2018/11/01/irs-announces-2019-retirement-plan-contribution-limits-for-401ks-and-more/#2b6930c6776c
Regards,
Ted
https://www.mutualfundobserver.com/discuss/discussion/44983/taxpayers-can-put-more-into-retirement-accounts-in-2019-irs-says#latest