November 4, 2023

The elective deferral limits for 2024 increased by a modest $500 from 2023, from $22,500 to $23,000.

Most TSP participants will receive a government/agency match of their contributions, up to 5% of their salary.

The TSP catch-up contribution limit remains $7,500 for 2024.

For those interested in investing in a Roth IRA, the limit increased from $6,500 to $7,000. Catch-up contributions for those over 50 remain capped at $1,000 for 2024.

More information can be found at irs.gov here.

Take a look at “TSP Fund Returns” and “TSP Calculators” to see how higher contributions over time can help to build wealth over the long-run… and order a copy of TSP Investing Strategies for even more wealth-building techniques and strategies!

Photo by Morgan Housel on Unsplash

Related topics: tsp-updates hsa roth-tsp