pyriel
Active member
imported post
I would like to know if anyone can help me concerning the issue of tsp contribution becoming unlimited at the onset of year 2006. I'm in active duty in the military and the current maximum contribution I can put in is 9% of my base pay. I am also 36 years old. IRS code 402(g) states that max I may contribute is 30K or 25% of income, whichever is lower. Can someone validate this. I would like to put 25% of my current income to tsp so that I may lower my taxable income. Are people aware of this significant event which would be happening in year 2006?
I would like to know if anyone can help me concerning the issue of tsp contribution becoming unlimited at the onset of year 2006. I'm in active duty in the military and the current maximum contribution I can put in is 9% of my base pay. I am also 36 years old. IRS code 402(g) states that max I may contribute is 30K or 25% of income, whichever is lower. Can someone validate this. I would like to put 25% of my current income to tsp so that I may lower my taxable income. Are people aware of this significant event which would be happening in year 2006?