I received this via email from one of our readers. Good info...
ATTENTION FEDERAL EMPLOYEES:
For 2006, the Internal Revenue Service (IRS) annual limit on elective deferrals for Thrift Savings Plan (TSP) contributions is $15,000. You are strongly encourged to check your TSP year-to-date contributions under the "Deductions" section of your Leave and Earnings Statement (LES) to ensure that your contributions do not exceed the limit prior to the end of the pay year. When the maximum contribution limit is reached, your employee contributions will be suspended for the remainder of the year. If you are a FERS employee, your agency matching contributions will also be suspended. (Employees over 50 years of age will still be able to continue participation in the TSP Catch-up program even if the regular employee contributions exceed $15,000.)
If you are under FERS, it is very important for you to ensure that you are making employee contributions throughout the entire year in order to avoid losing agency matching contributions. You may change your contribution election at any time via the ABC-C systems. The TSP Fact Sheet entitled "Annual Limits on Elective Deferrals", describes in detail the elective deferral limits and especially how it affects TSP contributions of FERS employees. You may view the TSP Fact Sheet entitled "Annual Limits on Elective Deferrals" at the following link http://www.tsp.gov/forms/oc91-13w.pdf . Additional information is available on line at https://www.abc.army.mil/. If you have questions, please contact a counselor at the Army Benefits Center - Civilian toll-free at 1-877-276-9287. Numbers for our overseas and/or hearing impaired customers can be found at https://www.abc.army.mil/Information/ABCGeneral/Information/ABCMenu.htm
ATTENTION FEDERAL EMPLOYEES:
For 2006, the Internal Revenue Service (IRS) annual limit on elective deferrals for Thrift Savings Plan (TSP) contributions is $15,000. You are strongly encourged to check your TSP year-to-date contributions under the "Deductions" section of your Leave and Earnings Statement (LES) to ensure that your contributions do not exceed the limit prior to the end of the pay year. When the maximum contribution limit is reached, your employee contributions will be suspended for the remainder of the year. If you are a FERS employee, your agency matching contributions will also be suspended. (Employees over 50 years of age will still be able to continue participation in the TSP Catch-up program even if the regular employee contributions exceed $15,000.)
If you are under FERS, it is very important for you to ensure that you are making employee contributions throughout the entire year in order to avoid losing agency matching contributions. You may change your contribution election at any time via the ABC-C systems. The TSP Fact Sheet entitled "Annual Limits on Elective Deferrals", describes in detail the elective deferral limits and especially how it affects TSP contributions of FERS employees. You may view the TSP Fact Sheet entitled "Annual Limits on Elective Deferrals" at the following link http://www.tsp.gov/forms/oc91-13w.pdf . Additional information is available on line at https://www.abc.army.mil/. If you have questions, please contact a counselor at the Army Benefits Center - Civilian toll-free at 1-877-276-9287. Numbers for our overseas and/or hearing impaired customers can be found at https://www.abc.army.mil/Information/ABCGeneral/Information/ABCMenu.htm
