Anonymous
08/14/2012 14:30
Subject: TSP elective deferal question
The agency match is already tax deferred (I believe) you can contribute another 17K tax deferred on top of that.
Anonymous
08/14/2012 14:13
Subject: TSP elective deferal question
Sorry that should be 17k (thus apx 11k over my agency matchED)?
I can give up another 11k and reduce my earnings this year by 17k? ...and pay the tax on the amount when I cash outin 20 years or so?
I can give up another 11k and reduce my earnings this year by 17k? ...and pay the tax on the amount when I cash outin 20 years or so?
Anonymous
08/14/2012 13:56
Subject: TSP elective deferal question
Your agency match doesn't count towards the 17K just your own contributions.
Anonymous
08/14/2012 13:54
Subject: TSP elective deferal question
Does this mean in addition to my 5% (about 6k) I contribute I can contribut up to 17K (thus apx 11k over my agency match). And that full 17k is tax deferred?
Thanks
Section 402 of the IRC limits the amount of income
you may elect to defer under all employer-sponsored
retirement plans during a tax year. (For most employees,
a tax year is January 1 through December 31.) The
elective deferral limit for 2012 is $17,000.
Thanks
Section 402 of the IRC limits the amount of income
you may elect to defer under all employer-sponsored
retirement plans during a tax year. (For most employees,
a tax year is January 1 through December 31.) The
elective deferral limit for 2012 is $17,000.