One TSP investment limit increases, the other remains unchanged

The IRS has raised the standard investment limit for the TSP and other 401 (k) type retirement savings plans to $ 20,500 for 2022, from $ 19,500 currently.

This “optional carryover limit” is the total investment allowed in traditional balances (before investment tax, taxable on withdrawal), Roth balances (after investment tax, tax free on withdrawal if certain conditions are met). are met) or both, for those with both types of equilibrium.

Meanwhile, the separate “catch-up contribution” limit will remain unchanged for 2022 at $ 6,500. This is an additional amount above the standard allowed limit for those who turn 50 in the relevant year. As of this year, no separate election is necessary; for those who are eligible for catch-up contributions, any investment beyond the standard “spillover” limit – they are automatically designated as catch-up contributions, up to that limit. Until last year, those who wanted to make catch-up investments had to specifically choose to do so.

Employer contributions on behalf of FERS employees and transfers to the TSP of money from retirement savings programs of former employers do not count towards the limits.

As the vaccination deadline approaches, so does the potential discipline – but maybe not right away.

The debate continues on the exceptions; The model religious exception request form is revised

DoD sets deadline for requesting exceptions and describes procedures for weighing them

Vaccine: EEOC addresses limits of “reasonable accommodation” under civil rights law

Instructions issued on missing immunization records, reminder leave

Guide for Federal Employees 2021