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The Thrift Savings Plan (TSP) is designed to help federal employees and military service members save for retirement on a tax-advantaged basis. If you decide to leave federal employment, one thing ...
Most working people have access to a retirement plan through their employer. Federal government employees may have a Thrift Savings Plan, while those working for companies might have a 401(k ...
For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution.
An employee must be over age 59 + 1 ⁄ 2 to request an "age-based" withdrawal and need not specify any reason for doing so. Employees may make up to four such withdrawals per calendar year; the prior requirement for a 30-day period between withdrawals was removed in 2024.
The Thrift Savings Plan (TSP) is a defined contribution plan that is available only to military service members and federal employees. ... If you are 50 or over, you can make an additional $7,500 ...
The Thrift Savings Plan is a tax-deferred defined contribution plan similar to a private sector 401(k) plan. The Thrift Savings Plan is one of the three parts of the Federal Employees Retirement System, and is the largest defined contribution plan in the world. As of August 2021, the board manages $794.7 billion in assets on behalf of 6.4 ...
For 2025, you’ll be able to increase your annual contribution to your 401(k), 403(b), governmental 457 plans, and the federal government's Thrift Savings Plan to $23,500, up from $23,000.
For plans like a 401(k), 403(b), Thrift Savings Plan, some 457 plans and Simple IRAs and 401(k) plans, the total contribution limit for participants age 60 to 63 in 2025 is $34,750.
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