New Thrift Savings Plan Limits

Week of December 15, 2008

The Federal Retirement Thrift Investment Board  announced an increase in the 2009 elective deferral limit for regular Thrift Savings Plan contributions. Servicemembers can now contribute any whole percentage of basic pay, as long as the annual total of the tax-deferred investment does not exceed $16,500 for 2009. Members may enroll in December. However, requested actions will not update until Jan. 1, 2009. Servicemembers can start contribution allocations by calling the TSP automated ThriftLine at 877-968-3778 for employees in the U.S., Virgin Islands, Puerto Rico, Guam, American Samoa and Canada. Others can call 404-233-4400 or log onto their TSP account at the TSP website.

To learn more about personal finances, visit the Military.com Finance Center.