Reply to Amount in TSP? Age? Years in Government? GS Level?

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[quote=Anonymous][quote=Anonymous]I am new to the government, so I don't understand all the benefits ... If you work in the private sector, maxing out your 401k is critical since that is a big, possibly only depending on what happens with the social security system, part of your retirement. Maxing out the TSP contribution doesn't seem as important since FERS will provide a big (around 30%) of our income during retirement. Are people maxing out the contribution because they have extra income and want to take advantage of the tax benefits and low fees of the TSP?[/quote]

I'm maxing out because a) we currently don't have kids, so maxing out now will help if we have to cut back my retirement contribution in the future. b) to get the benefit of reducing our income for tax purposes c) maxing out doesn't really cramp our lifestyle since we live well below our means. might as well save the money someplace where it actually grows d) my husband is a MD state employee and frankly, he doesn't understand/know what his benefits are and i have yet to dedicate the time to figure it out (can you tell who manages all of the household finances?), so I'm hedging my bets that his pension is not that generous e) who knows what the future may hold? the president is a nutjob and congress is fairly hostile to the federal workforce. i don't trust that they won't screw us over. 
 
GS14, 32, 4 years, 61K. Just upped my contribution to the amount that will be 18K, so next year will be the first year I max out. This year's contribution will be around 16K. [/quote]

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