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Tag: Thrift Savings Plan
  • TSP waives penalties for Coronavirus-related early withdrawals

    During the ongoing COVID-19 pandemic, many people may be experiencing financial burdens they had not planned for. For participants in the federal Thrift Savings Plan, there may be an early withdrawal or loan option they can utilize to help ease their financial situation and the stress that comes with it.
  • Thrift Savings Plan 2020 Contributions Limit increases

    Each year the Internal Revenue Service (IRS) places limits on the dollar amount of contributions that can be contributed to the Thrift Savings Plan(TSP). The limit for regular contributions (traditional and/or Roth) is referred to as the elective deferral limit, Internal Revenue Code (IRC) Section 402(g). For 2020, the elective deferral limit is