CoastieRob
New member
I just came across this website and let me say thanks! what a great resource for a topic (the TSP) that is often hard to get answers for.
My question is regarding the maximum contribution for 2006, which I know is $15,000. Because I have to contribute based on a percentage of my base pay, it was hard to estimate my total contribution. If my December contribution goes through, I will have contributed $15,006 during the year. So...will my contribution automatically be capped at $15,000 or will they allow the extra $6 to be contributed, then risk a fine from the IRS??
I called the TSP ThriftLine and they said I had to check with my payroll office. I checked with my payroll office but no one seemed to have a solid answer. The best I got was, "I think it will cap at $15k"
I just want to make sure I won't get hit with a penalty from the IRS.
thanks!
~Rob~
My question is regarding the maximum contribution for 2006, which I know is $15,000. Because I have to contribute based on a percentage of my base pay, it was hard to estimate my total contribution. If my December contribution goes through, I will have contributed $15,006 during the year. So...will my contribution automatically be capped at $15,000 or will they allow the extra $6 to be contributed, then risk a fine from the IRS??
I called the TSP ThriftLine and they said I had to check with my payroll office. I checked with my payroll office but no one seemed to have a solid answer. The best I got was, "I think it will cap at $15k"
I just want to make sure I won't get hit with a penalty from the IRS.
thanks!
~Rob~