Hello from Kansas!
Moderator: Aitrus
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- Posts: 6
- Joined: Sun Dec 31, 2017 3:35 am
Hello from Kansas!
Hi there, I just got out of the military after 6 years. So basically I'm focusing on the TSP at this point. I'm 37 years old. I contributed to the TSP, but sadly I knew nothing and it sat in the G fund for the last 4 years.
Quick question- I'm contributing by dollar amount rather than percentage from my paycheck. Percentage-wise it's more than 5%. But will the fact that I'm contributing by dollar amount rather than % mean that my agency will not match 5%? Or will they match 5% regardless or rather I contribute by dollar rather than %?
Quick question- I'm contributing by dollar amount rather than percentage from my paycheck. Percentage-wise it's more than 5%. But will the fact that I'm contributing by dollar amount rather than % mean that my agency will not match 5%? Or will they match 5% regardless or rather I contribute by dollar rather than %?
Re: Hello from Kansas!
Hey brother welcome. Nope they will match 5% regardless.Pregoamich wrote:Hi there, I just got out of the military after 6 years. So basically I'm focusing on the TSP at this point. I'm 37 years old. I contributed to the TSP, but sadly I knew nothing and it sat in the G fund for the last 4 years.
Quick question- I'm contributing by dollar amount rather than percentage from my paycheck. Percentage-wise it's more than 5%. But will the fact that I'm contributing by dollar amount rather than % mean that my agency will not match 5%? Or will they match 5% regardless or rather I contribute by dollar rather than %?
As a primer you need to read the first few pages of this:
http://tspcenter.com/forums/viewtopic.php?f=14&t=13214
He's coming out with a 2018 version but its great stuff and a must read. It sure changed my life...
Those who 'abjure' violence can do so only because others are committing violence on their behalf.
Re: Hello from Kansas!
Also we have a facebook page where we discuss the daily strats at length.. lots of military former and active there..
https://www.facebook.com/groups/TSPCalc/
Check it out.
https://www.facebook.com/groups/TSPCalc/
Check it out.
Those who 'abjure' violence can do so only because others are committing violence on their behalf.
Re: Hello from Kansas!
It doesn't matter...they will match 5% as long as you are contributing at least 5% per pay period. If you get close to contributing the maximum annually, you need to make sure to spread it throughout the year. If you hit the max before the end of the year, you will still get the 1% automatic match but lose the rest of the match.
Have you looked into buying your military time under FERS?
Have you looked into buying your military time under FERS?
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- Posts: 6
- Joined: Sun Dec 31, 2017 3:35 am
Re: Hello from Kansas!
Hi all, thank you for the kind responses! Yes I plan to view Aitrus' thread nextevilanne wrote:It doesn't matter...they will match 5% as long as you are contributing at least 5% per pay period. If you get close to contributing the maximum annually, you need to make sure to spread it throughout the year. If you hit the max before the end of the year, you will still get the 1% automatic match but lose the rest of the match.
Have you looked into buying your military time under FERS?
Regarding that max- I'm planning to save aggressively. Now regarding that $18,500 max- can't seem to get a straight answer on this but is that $18,500 that I contribute without the agency contribution? Or does the $18500 amount include agency matching contribution?
Re: Hello from Kansas!
It's the amount you can contribute...not including government match.
Re: Hello from Kansas!
Yup... Anne is spot on.... you have 18,500 + the match. For folks in my Dept. we have 27 pay periods this year. 18,500 / 27 = $686, So $686 + 283.25 (5% match) = $969.25 allocated per pay period. And finally.... $969.25 x 27 (pay periods) = $26,169.75 per year added to your account. That's a bit nicer eh?!
The match is going to be different for everyone, it's 5% of your pay period gross pay.
The match is going to be different for everyone, it's 5% of your pay period gross pay.
Those who 'abjure' violence can do so only because others are committing violence on their behalf.
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- Posts: 6
- Joined: Sun Dec 31, 2017 3:35 am
Re: Hello from Kansas!
Great! Thank you Anne and Mbeer!
Fund Prices2024-03-28
Fund | Price | Day | YTD |
G | $18.15 | 0.05% | 1.05% |
F | $19.08 | -0.06% | -0.74% |
C | $82.21 | 0.11% | 10.55% |
S | $82.43 | 0.30% | 6.92% |
I | $42.57 | -0.24% | 5.95% |
L2065 | $16.38 | 0.02% | 8.37% |
L2060 | $16.39 | 0.02% | 8.38% |
L2055 | $16.39 | 0.02% | 8.38% |
L2050 | $32.73 | 0.01% | 6.95% |
L2045 | $14.91 | 0.02% | 6.58% |
L2040 | $54.38 | 0.02% | 6.22% |
L2035 | $14.34 | 0.02% | 5.79% |
L2030 | $47.67 | 0.02% | 5.38% |
L2025 | $13.15 | 0.03% | 3.43% |
Linc | $25.61 | 0.03% | 2.82% |