TSP contribution error, or am I missing something?
Moderator: Aitrus
TSP contribution error, or am I missing something?
Hello all, I think I've found an error in my TSP account, but wanted to account for the possibility that I'm missing something before I call them about it on Monday.
I've changed my Roth TSP % a few times in the last couple of months, and looking at it now, each time I've changed it, the proper amount has been deducted from my LES, but the contribution to my TSP account has been the previous percentage (i.e. inaccurate).
For example, at the end of June 2017, I increased my TSP %, so my July LES shows that $607.01 was deducted from my pay (which is accurate based on the TSP% I selected), but on the TSP site, under recent activity, it says my July 3 contribution was $485.60.
Similarly, at the end of August 2017, I increased my % again, and my September LES removed $809.34 from my pay, but the TSP site says my September 3 contribution was only $607.01.
To me, it doesn't make sense that TSP contributions would be one month "behind", as the point of changing the allocation at the end of August is so it would be reflected in the September LES. If I'm losing $809.34 from my September LES, which naturally covers Sept 1 to Sept 30, why would my TSP contribution on Sept 3 only be $607.01?
Something that seemed to confirm the disconnect to me is that my Dec 2016 LES says YTD Roth TSP contribution was $1653.39, and my September 2017 LES says YTD Roth TSP contribution is $4410.90, so just those contributions alone would be $6064.29 in my TSP, but as of today, my account shows contributions of $5254.95 (gains notwithstanding), which means more than $800 that was taken from my me/my LES has not been contributed to my TSP.
Sorry for the long post, but am I missing something obvious here? It doesn't make sense to me that the excuse would be that contribution numbers are one month behind (i.e. that my Sept LES would deduct $809.34 but that that $809.34 would not actually be contributed until October), as the first month one contributes, there is both a deduction in your LES and a contribution to your TSP, so each month's contribution should reflect the number on that month's LES, so I'm at a loss (well, literally) as to what's going on here. Perhaps I'm missing something fundamental, but I'd appreciate confirmation either way (e.g. yes, that's an error, or no, there's a one month delay between LES deduction and TSP contribution because of X, Y, Z reasons).
Thank you.
I've changed my Roth TSP % a few times in the last couple of months, and looking at it now, each time I've changed it, the proper amount has been deducted from my LES, but the contribution to my TSP account has been the previous percentage (i.e. inaccurate).
For example, at the end of June 2017, I increased my TSP %, so my July LES shows that $607.01 was deducted from my pay (which is accurate based on the TSP% I selected), but on the TSP site, under recent activity, it says my July 3 contribution was $485.60.
Similarly, at the end of August 2017, I increased my % again, and my September LES removed $809.34 from my pay, but the TSP site says my September 3 contribution was only $607.01.
To me, it doesn't make sense that TSP contributions would be one month "behind", as the point of changing the allocation at the end of August is so it would be reflected in the September LES. If I'm losing $809.34 from my September LES, which naturally covers Sept 1 to Sept 30, why would my TSP contribution on Sept 3 only be $607.01?
Something that seemed to confirm the disconnect to me is that my Dec 2016 LES says YTD Roth TSP contribution was $1653.39, and my September 2017 LES says YTD Roth TSP contribution is $4410.90, so just those contributions alone would be $6064.29 in my TSP, but as of today, my account shows contributions of $5254.95 (gains notwithstanding), which means more than $800 that was taken from my me/my LES has not been contributed to my TSP.
Sorry for the long post, but am I missing something obvious here? It doesn't make sense to me that the excuse would be that contribution numbers are one month behind (i.e. that my Sept LES would deduct $809.34 but that that $809.34 would not actually be contributed until October), as the first month one contributes, there is both a deduction in your LES and a contribution to your TSP, so each month's contribution should reflect the number on that month's LES, so I'm at a loss (well, literally) as to what's going on here. Perhaps I'm missing something fundamental, but I'd appreciate confirmation either way (e.g. yes, that's an error, or no, there's a one month delay between LES deduction and TSP contribution because of X, Y, Z reasons).
Thank you.
Re: TSP contribution error, or am I missing something?
I'm confused by reading your post. TSP generally registers within a few days of the pay date based on my experience. Are you getting paid every 2 weeks or twice a month? Pay Period that ends in last part of December will pay out in January and be included in new year's data. Suggest you look at your annual and most recent quarterly TSP statements to see if you can reconcile TSP & payroll dates/payments through the end of June. It may help you understand when each payment is paid/counted.
Re: TSP contribution error, or am I missing something?
I'm paid on the 15th and 30th of each month. Are you saying that the amount deducted from your LES in, say, September is not actually contributed to your TSP account until October? That would seem to be the only reasonable explanation (and perhaps it's so obvious that it's just taken for granted), but there just seems to be a disconnect between updating your contribution % at the end of August, your September LES reflecting that change, but your September contribution through the TSP site only contributing the old amount, despite the change occurring prior to that month.
It's also odd that my September 2017 LES says YTD Roth contributions are $4410.90, but that after adding up each of my January through September 2017 contributions on the TSP site, they only amount to $3879.01.
It's certainly possible that I'm overthinking this and missing something obvious, and if so, I apologize - it just doesn't quite add up in my head.
It's also odd that my September 2017 LES says YTD Roth contributions are $4410.90, but that after adding up each of my January through September 2017 contributions on the TSP site, they only amount to $3879.01.
It's certainly possible that I'm overthinking this and missing something obvious, and if so, I apologize - it just doesn't quite add up in my head.
Re: TSP contribution error, or am I missing something?
The TSP payment should match your actual pay date (within a week). Generally when you begin working anywhere, you usually work for a few weeks before ever getting a pay check. When you stop working, you usually get your final pay check a couple of weeks later. I don't know how the military works their LES. Any changes to TSP, withholding etc. generally has to be put in the pay period prior to it taking effect in the next pay period. If I go back & look at my LES and TSP contributions/dates on the quarterly TSP statements, the TSP contributions were made 3-5 days prior to the pay date, 8-10 after end of pay period.
Difference is $531.89, were your contributions in December 2016 or January 2017 equal to this amount? You should be able to match everything up by the specific payments, especially since you have been changing the amounts. If all else fail, call your personnel and/or payroll office.rulerjd wrote:It's also odd that my September 2017 LES says YTD Roth contributions are $4410.90, but that after adding up each of my January through September 2017 contributions on the TSP site, they only amount to $3879.01.
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