2018 Contribution Limit question

General TSP Discussion.

Moderator: Aitrus

rebel
Posts: 7
Joined: Wed Jan 02, 2008 3:57 pm

Re: 2018 Contribution Limit question

Post by rebel »

I attached a copy of my 2018 Payroll Calendar
You do not have the required permissions to view the files attached to this post.

rebel
Posts: 7
Joined: Wed Jan 02, 2008 3:57 pm

Re: 2018 Contribution Limit question

Post by rebel »

highseas: I read it at tsp.gov under contribution limits....

Contribution Limits for 2018
Elective Deferral Limit $18,500 IRC §402(g)
Applies to combined total of traditional and Roth contributions. For members of the uniformed services, it includes all traditional and Roth contributions from taxable basic pay, incentive pay, special pay, and bonus pay, but does not apply to traditional contributions made from tax-exempt pay earned in a combat zone.

HomerJ
Posts: 2
Joined: Wed May 01, 2013 10:06 am

Re: 2018 Contribution Limit question

Post by HomerJ »

Where does it say the limit is going to $18,500?
https://www.tsp.gov/PlanParticipation/E ... imits.html

highseas
Posts: 10
Joined: Mon Apr 03, 2017 11:50 am

Re: 2018 Contribution Limit question

Post by highseas »

rebel wrote:highseas: I read it at tsp.gov under contribution limits....

Contribution Limits for 2018
Elective Deferral Limit $18,500 IRC §402(g)
Applies to combined total of traditional and Roth contributions. For members of the uniformed services, it includes all traditional and Roth contributions from taxable basic pay, incentive pay, special pay, and bonus pay, but does not apply to traditional contributions made from tax-exempt pay earned in a combat zone.
Oh thanks. I need to adjust my contributions soon then.

CNMI
Posts: 10
Joined: Fri Jun 23, 2017 12:22 pm

Re: 2018 Contribution Limit question

Post by CNMI »

LostNomad wrote:Input Dec 10 to Dec 23.

Regular: $712

Catch Up: $231

Catch up must be re-input every year.
Thanks for this post. I was looking for the timing, now I know. :)

User avatar
Snapdragon
Posts: 247
Joined: Tue Jan 29, 2013 5:26 pm

Re: 2018 Contribution Limit question

Post by Snapdragon »

rebel wrote:I attached a copy of my 2018 Payroll Calendar
I have the exact same payroll calendar as you for Dept of Interior. Official payday is Tuesday, but it hits my bank Monday, unless its a holiday then it hits the Friday before.

I hope you get it figured out. I am not at maxing out yet, so no problem here.

User avatar
cswift01
Posts: 819
Joined: Thu Dec 08, 2016 10:46 am

Re: 2018 Contribution Limit question

Post by cswift01 »

Who knows what it will be, but this is still crazy. Reduce everyone's 401k so you can repeal the estate tax?

https://www.marketwatch.com/story/house ... 2017-11-01

Of course this could be just banter...

CNMI
Posts: 10
Joined: Fri Jun 23, 2017 12:22 pm

Re: 2018 Contribution Limit question

Post by CNMI »

cswift01 wrote:Who knows what it will be, but this is still crazy. Reduce everyone's 401k so you can repeal the estate tax?

https://www.marketwatch.com/story/house ... 2017-11-01

Of course this could be just banter...
This would be disastrous. What the hell are these clowns thinking?

Dela444
Posts: 19
Joined: Tue Jun 07, 2016 8:54 am

Re: 2018 Contribution Limit question

Post by Dela444 »

rebel wrote:Since the annual contribution has increased from $18000 to $18500 for 2018 when do I submit my payroll change. I know if its 26 pay periods then I would increase to $712 on a Bi-Weekly pay schedule. I saw a calendar and it shows that it will have 27 pay periods for 2018. So I have two questions.

1. When do you submit the payroll change? Pay period 1 starts on Dec 10, 2017 - Dec 23, 2017. Is this the correct time to submit the increase to $712 or do you submit it during pay period 26 which would be between Nov 26 - Dec 9?

2. If 2018 has 27 pay periods do you adjust the bi weekly contribution to $686 to keep getting the 5% matching or is the 27th pay period a correction for the calendar only and no matching will be given in this extra pay period?

Thanks in advance for your time.

rayodom
Posts: 10
Joined: Thu Jul 06, 2017 7:45 pm

Re: 2018 Contribution Limit question

Post by rayodom »

There's a post above that explains this.

LilJess
Posts: 11
Joined: Fri Jun 16, 2017 7:22 am

Re: 2018 Contribution Limit question

Post by LilJess »

Great info, thank you.

User avatar
evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: 2018 Contribution Limit question

Post by evilanne »

For those doing Catch Up, Proposed Amendment may require Roth vs Traditional https://www.fedsmith.com/2017/11/13/pro ... ributions/

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: 2018 Contribution Limit question

Post by mmmmmbeer »

So I emailed my HR lady, asking about the new limit of 18.5k, along with the 27 pay periods.

She said you can go into Employee Express right now and put in the new allocation to be executed effective12/10/2017. Here's what it says when you go to change your contribution:
Example to follow for deducting equal payments:

Effective Date: December 10, 2017
Number of Pay Periods in tax year: 27
Pay Period Deduction Amount: $686
(i.e. $18,500/27 = $686 rounded up)

The 27th payment will round to $664 to ensure the deduction amount does not exceed the limit for the year.This will ensure you will reach the annual limit on the last pay period of the tax year and continue to receive applicable agency contributions.
I did mine on Wednesday. Bring it on 2018!
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

mindofmush
Posts: 353
Joined: Mon Jul 02, 2012 1:38 pm

Re: 2018 Contribution Limit question

Post by mindofmush »

evilanne wrote:For those doing Catch Up, Proposed Amendment may require Roth vs Traditional https://www.fedsmith.com/2017/11/13/pro ... ributions/
If that remains in the final signed bill, it shouldn't become effective until the 2019 tax year.
mo meng, mo ching (which loosely means: no money, no life)

mmmmmbeer
Posts: 917
Joined: Wed May 11, 2016 11:00 am

Re: 2018 Contribution Limit question

Post by mmmmmbeer »

mindofmush wrote:
evilanne wrote:For those doing Catch Up, Proposed Amendment may require Roth vs Traditional https://www.fedsmith.com/2017/11/13/pro ... ributions/
If that remains in the final signed bill, it shouldn't become effective until the 2019 tax year.

Update: This amendment has been dropped in some of the latest Senate debates.

https://www.fedsmith.com/2017/11/16/hat ... -tax-bill/
Those who 'abjure' violence can do so only because others are committing violence on their behalf.

Post Reply

Fund Prices2024-03-28

FundPriceDayYTD
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%

Live Charts

Pending Allocations

Under development. For now, you may view Pending Allocations by going to "fantasy TSP" and selecting "Leaderboard sort" of "Pending Allocations".