Retirement reminder: TSP catch-up deadline approaching

The Postal Service is reminding employees that the deadline to make Thrift Savings Plan (TSP) catch-up contributions effective for the first pay period of 2017 is Jan. 4 at 4 p.m. EST.

There is no open season for TSP. Employees can make or change TSP elections at any time during the year.

In 2017, employees can make up to $18,000 in regular TSP contributions. Employees age 50 or older can contribute an additional $6,000 in catch-up contributions.

Employees under the Federal Employees Retirement System (FERS) are encouraged to contribute at least 5 percent of their pay as regular TSP contributions in order to get the full matching contributions from the Postal Service.

The TSP LiteBlue page has additional information.

Source: USPS News Link

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