Maxing TSP

Question, if I set my allocation to 100% into the TSP at the beginning of the year, will my checks just go to my bank account after I’ve maxed out or do I need to pay close attention to when I max so my paychecks don’t disappear
I'm not sure, but I'd advise against doing this. After you max your TSP, you will no longer receive agency matching 5% for the rest of the year. Best to set it at a rate to max after 26 pay periods, I think it's like 789/check
 
Question, if I set my allocation to 100% into the TSP at the beginning of the year, will my checks just go to my bank account after I’ve maxed out or do I need to pay close attention to when I max so my paychecks don’t disappear
If you front load it make sure you leave enough to get the max for the rest of the year. Once you hit the max the match stops
 
I'm not sure, but I'd advise against doing this. After you max your TSP, you will no longer receive agency matching 5% for the rest of the year. Best to set it at a rate to max after 26 pay periods, I think it's like 789/check
Is 20.5k My contribution limit or, Gov + My contribution
 
Is 20.5k My contribution limit or, Gov + My contribution
it’s your limit. But they only match on paychecks you contribute at (up to 5%). So if you aren’t contributing at least 5 you won’t get the match or the full match.

I think the 1st percent is auto so maybe you still would get that
 
it’s your limit. But they only match on paychecks you contribute at (up to 5%). So if you aren’t contributing at least 5 you won’t get the match or the full match.

I think the 1st percent is auto so maybe you still would get that
Sweet thanks! So between you and the government you're actually contributing more than 20.5k. Damn I need to get to a level 11 or 12 because the 5% they're getting matched at is much higher than my low level facility. Yep you're right 1% automatic no matter if you contribute or not. I tell everyone put at least 5% in so gov can match 5%, you're giving yourself a raise
 
Sweet thanks! So between you and the government you're actually contributing more than 20.5k. Damn I need to get to a level 11 or 12 because the 5% they're getting matched at is much higher than my low level facility. Yep you're right 1% automatic no matter if you contribute or not. I tell everyone put at least 5% in so gov can match 5%, you're giving yourself a raise
Yah this is part of the reason the trianing hold sucks so bad. Those kids will never get that CPC match back

I’d say to just keep it simple and do the even contribution. But if you don’t then make sure you math is right
 
it’s your limit. But they only match on paychecks you contribute at (up to 5%). So if you aren’t contributing at least 5 you won’t get the match or the full match.

I think the 1st percent is auto so maybe you still would get that
Since the 1% is automatic, do you only need to contribute 4% to get the full 5% match? Or does the auto 1% not count and you need to put in 5% to get 5%?
 
Since the 1% is automatic, do you only need to contribute 4% to get the full 5% match? Or does the auto 1% not count and you need to put in 5% to get 5%?
1% is automatic, they match dollar for dollar for up to 3%. If you put in 3%, they'll put in 4%. They then match $0.50 for every dollar up to you putting in 5%. If you put in 4%, they will put in 4.5%. If you put in 5% they will put in the 5%, which is max that they will match.
 
1% is automatic, they match dollar for dollar for up to 3%. If you put in 3%, they'll put in 4%. They then match $0.50 for every dollar up to you putting in 5%. If you put in 4%, they will put in 4.5%. If you put in 5% they will put in the 5%, which is max that they will match.
You guys got it backwards. You have to put in 5% and the agency matches 4%, which is the max they will contribute.
 
You guys got it backwards. You have to put in 5% and the agency matches 4%, which is the max they will contribute.
From OPM

Agency Automatic (1%) Contributions. When you become eligible, your agency automatically deposits into your TSP account an amount equal to 1% of your basic pay each pay period, even if you do not contribute your own money. After 3 years of Federal civilian service (or 2 years in some cases), you are vested in these contributions and their earnings.

Agency Matching Contributions. When you become eligible, your agency will match the first 3% of basic pay you contribute each pay period dollar for dollar. Each dollar of the next 2% of basic pay will be matched 50 cents on the dollar. You are immediately vested in the matching contributions.
 
From OPM

Agency Automatic (1%) Contributions. When you become eligible, your agency automatically deposits into your TSP account an amount equal to 1% of your basic pay each pay period, even if you do not contribute your own money. After 3 years of Federal civilian service (or 2 years in some cases), you are vested in these contributions and their earnings.

Agency Matching Contributions. When you become eligible, your agency will match the first 3% of basic pay you contribute each pay period dollar for dollar. Each dollar of the next 2% of basic pay will be matched 50 cents on the dollar. You are immediately vested in the matching contributions.
I stand corrected. Guess I overlooked that 1% they contribute automatically when they went over it at orientation. I just took away that you should at least contribute 5% on your own so you're maximizing their match.
 
Is there any NATCA resources for free financial advising? I've run into some issues with my Roth IRA where I didn't realize the income limits were lower if you have an employee sponsored retirement plan. Just wondering if there are any union resources I can utilize before going out of pocket on a private one.
 
Is there any NATCA resources for free financial advising? I've run into some issues with my Roth IRA where I didn't realize the income limits were lower if you have an employee sponsored retirement plan. Just wondering if there are any union resources I can utilize before going out of pocket on a private one.
They have union retirement seminars which they should be able to answer any of your questions.
 
They have union retirement seminars which they should be able to answer any of your questions.
Gotcha, I've been looking to jump in on one of those. It appears I might be okay, I can only find that restriction on traditional IRAs not Roth. So hoping that is the case.
 
Is there any NATCA resources for free financial advising? I've run into some issues with my Roth IRA where I didn't realize the income limits were lower if you have an employee sponsored retirement plan. Just wondering if there are any union resources I can utilize before going out of pocket on a private one.

Talk to your local rep. Ours has a deal with a local CFP who is familiar with TSP/FERS/ATC pay scales etc
 
Do not listen to any pseudo finance guru of your facility who ppl think has the market cornered because he bought GME during the pandemic!!! Do your own DD.

My due diligence says a massive raise is coming soon so at that point I will have much more flexibility with diversifying investments TSP, et al. The RAZEWEN movement will have us going from Top Ramen back to the Top shelf. Cheers 🍹
 
Gotcha, I've been looking to jump in on one of those. It appears I might be okay, I can only find that restriction on traditional IRAs not Roth. So hoping that is the case.
There’s an income limit to be able to do a Roth IRA but you’re right, only Traditional (tax deductible) is affected by whether or not you have an employer sponsored plan. You can always do a non-deductible IRA and then back door into Roth if you’re above the income limit but I doubt you are because #razewen
 
There’s an income limit to be able to do a Roth IRA but you’re right, only Traditional (tax deductible) is affected by whether or not you have an employer sponsored plan. You can always do a non-deductible IRA and then back door into Roth if you’re above the income limit but I doubt you are because #razewen
There is an income limit for outside Roth IRA. But you can still contribute the max TSP Roth even though it is above the outside limit.
 
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