Re: [TSPStrategy] 2021 Date for TSP 2022 Contributions

Thank you I may end up with no pay check but at least I will have it in TSP with lower earnings for the year. 

On Nov 30, 2021, at 2:59 PM, tmelick via groups.io <tmelick=yahoo.com@groups.io> wrote:

Yes, you can, just calculate how much to withdraw to your TSP each pay period before your April 2022 retirement so you reach the max by then

-------- Original message --------

From: "sorullo1 via groups.io" <sorullo1=yahoo.com@groups.io>

Date: 11/30/21 13:36 (GMT-06:00)

To: TSPStrategy@groups.io

Subject: Re: [TSPStrategy] 2021 Date for TSP 2022 Contributions

Great info, thank you all! I have a question though…

If I am retiring at the end of April 2022, can I Max out contributions to TSP and Catch up?

On Nov 30, 2021, at 1:13 PM, Mike VanAmburgh <mjv325@gmail.com> wrote:



I'm going to submit my $1039 change at the end of next week. I turn 50 next year so it will be nice being allowed to invest more. If you submit it too early and the amount takes effect prior to the cutoff for 2021, you'll still be cut off at the max for this year without losing your match. For example, if you've been paying in the 750 per PP to meet the $19,500 max and your increase for 2022 to $789 kicks in PP26 of this year, they will still cap you at $19,500. That's how DoD AF works anyway. Not sure if it's different for other agencies. I submit it early so that I know the new amount will be effective for PP1. 

Regular was increased $19,500 to $20,500 and catch-up stayed the same at $6500. In the 8 years I've been a federal employee, I don't remember one figure raising without the other before. Strange. 

Contribution limits for a separate Traditional or Roth IRA remain the same at $6000, or $7000 for catchup. 

On Tue, Nov 30, 2021 at 8:26 AM Tim via groups.io <timothy.j.bryson.civ=mail.mil@groups.io> wrote:

Does anyone know the date to make changes for 2022 TSP contributions to be effective on on the First PP of 2022?
Also - i think the Limit has gone up to $20,500 for Regular and $6,500 for Catch Up for a total of $27,000.
By 26PP then biweekly contribution would be $1,038.47 per pay period. Please let me know if error?

Thanks,
Tim

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