That 1% is for the automatic agency contribution for you regardless of your contribution. The remaining 4% of matching fund will depends on whether you contribute or not for TSP. The first 3% of your contribution gets one to one matching fund. Any contribution beyond the first 3% will get a half percent matching for one percent contribution up to the maximum matching fund allowed (which is 5%) is reached. That's how you get 5% matching fund in Traditional TSP for 5% contribution in either Traditional or Roth TSP. So even if you don't contribute at all, you would still get the automatic 1% matching in traditional TSP. Hope that helps...
On Thu, Mar 1, 2018 at 4:51 PM, Jim Edwards jimedcoach@gmail.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
As I look at my LES it says I get 1% for my matching of 5%, is that correct or should i get 5% for putting in my 5%?On Thu, Mar 1, 2018 at 11:13 PM, poptopwater@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:Correct. Gary has it right.
We all know you have to put in 5% to get 5% matched.
The 5% matching government contribution goes into your traditional balance regardless of if your participant contribution is traditional or Roth.
Gov matching could never be Roth because they would have to tax it before they give it.
If you wanted to bear the tax burden up front, you can contribute to Roth only and still get your matching (traditional).
If you hit $18,500 personal contributions before the final pay period, you will be forced to stop contributing for the remainder of that year, and matching funds will also stop. Plan accordingly.
--Jim Edwards
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Posted by: Paul <ur12bfriend@gmail.com>
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