The maximum annual contribution limit for Service Members who participate in the Thrift Savings Plan (TSP) will increase in 2025 from $23,000 to $23,500. The catch-up contribution limit for Service Members aged 50 and over will remain the same in 2025 at $7,500.
Reminder: There is no open season for TSP and Service Members can make elections at any time throughout the year. Those in the Blended Retirement System (BRS) ensuring that they contribute at least 5% each pay period will make sure that they receive their full match throughout the entire year. The match begins in the 25th month after joining for Service Members in the BRS. There is no match for Service Members in the Legacy Retirement Plan.
If Service Members wish to contribute the maximum amount to the TSP in 2025, they can distribute their contributions evenly over 24 pay dates and can submit their election option between December 1 to 14 so that it will be effective for the first paycheck in January 2025.
Service Members, remember that there is a projected pay raise of 4.5% that will also take place in January 2025.
To contribute the maximum of $23,500 for Service Members under the age of 50, they can elect $980 per pay period.
To contribute the maximum of $31,000 for Service Members aged 50 and older, they can elect $1,292 per pay period.
Connect with www.tsp.gov to view fund distribution and many TSP related questions.
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