ok...so stupid question.

[Callme_CO]

Ok i know you all will laugh but i have to ask to make sure.

I recently got promoted to a gl-7 step 2. The difference in pay for the year is $4177. I devided that by 26 for each PP. Now that gave me 160.65 more per pay period i'm making on my check. Since i'm living fine as it is i'd like to throw it all in tsp. I'm already contributing 129.46 a month (9%) to tsp. Since i don't want to do the math and add it up to figure out a percentage i just took the 129.46 and added the 160.65 = 290.11. SO instead of putting in a percentage for tsp contributions i put in a whole dollar amount. I will still get the matching doing that right? I figured i would but i don't want the bureau pulling a who-do on me. LIke i said stupid question.

 

[BeaverState]

Ok i know you all will laugh but i have to ask to make sure.

I will still get the matching doing that right?

You will get the match as long as the dollar amount you put in equals 5 percent or more of your base pay. Congratulations on your promotion.

 

[Callme_CO]

thanks for the answer I though of a way to calculate the percentage. I have spare time on my hands since the institution is on Lockdown

 

[ChemEng]

Ive inputted contribution changes by dollar amounts instead of percentages before and received the match.

Congrats on the promotion!

 

[SkyPilot]

thanks for the answer I though of a way to calculate the percentage. I have spare time on my hands since the institution is on Lockdown

Stay safe as the institution comes back up!

 

[Birchtree]

Your cap is now based on a dollar amount and no longer percentages. You can put in up to $15,500 of your own money and if you are fortunate enough to be over fifty you qualify for the catch up amount of $5,000. Your match is added to this. If you can afford these amounts the balances will add up real fast. When folks talk in term of potential $1M they are serious contenders. The more you have working the more you can make - that's the first law of finance.

 

[Callme_CO]

so the cap for the year is 15,500? Break that down over 26 pay periods of the pay year and you get $596.19 a PP. I'm not that financially secure. but who knows if i make captain one day i might be able to then.

 

[BeaverState]

so the cap for the year is 15,500? Break that down over 26 pay periods of the pay year and you get $596.19 a PP. I'm not that financially secure. but who knows if i make captain one day i might be able to then.

But then you'll have to buy a bunch of new suits.:cheesy: