Big Changes Are Coming to the TSP - August 5th, 2019
By Tammy Flanagan, Government Executive
Times are changing for the Thrift Savings Plan—and for all of the federal employees and retirees who have invested their retirement savings in it.
One recent change was the formal announcement that the TSP will no longer require a separate election for catch-up contributions for those age 50 and older. Instead, once a participant hits his or her annual limit for regular contributions, the TSP will automatically shift paycheck deductions to catch-up contributions. You can read more about what is known the “spillover method” in this TSP bulletin.
Even bigger changes are coming to the TSP next month with the implementation of the TSP Modernization Act, which will affect all participants.