October 30, 2017

The IRS increased the elective deferral limits for 2018 from $18,000 (the limit in 2017) to $18,500.

The catch-up contribution limit is $6,000.

More information can be found on the tsp.gov site here, while the IRS announcement is here.

Health Savings Account (HSA) contribution limits for 2018 are $3,450 for an individual with coverage under a qualifying high-deductible health plan (HDHP), and $6,900 for an individual with family coverage under an HDHP. Those 55 or older can make additional catch-up contributions of $1,000 per year.

Take a look at “TSP Fund Returns” to see how higher contributions over time can help to build wealth…!

Related topics: tsp-updates roth-tsp hsa