TSP contribution question

[DCguy]

I'm now very confused and can't find an answer to this nub question. I know that the yearly TSP contribution limit is $15500. Does that limit include gov't agency contribution matching? Thx.

 

[EW_ret]

No, it does not include the agency contributions. Its strickly your contributions to TSP, or 401 type plan. it also does not include any IRA contributions you make. That means you may also contribute $4,000 ($5,000 in 2008) to an IRA. If you are age 50 or older, you can contribute an additional $5,000 to the TSP/401 ($20,500 total), and $1,000 to the IRA ($5,000 this year and $6,000 in 2008).

 

[DCguy]

wow. thx. I had no idea govt matching contribution is seperate.

 

[Squiner]

I've been wondering about this too..thanks