Beginning with the first pay period of 2021, the TSP switched to a “spillover” method for TSP Catch-Up contributions. The spillover method streamlines the catch-up contribution process for eligible participants by eliminating the requirement for participants to make an affirmative catch-up election each year. Participants turning 50 or older will no longer need to make a separate catch-up election. Once they reach the Elective Deferral Limit, their regular contributions will automatically start counting toward the IRC 414(v) catch-up contribution limit.
For more information, please visit the following webpages:
Active Duty Military Member: www.dfas.mil/MilitaryMembers/tspformilitary/tspac/
Reserve/Guard Military Member: www.dfas.mil/MilitaryMembers/tspformilitary/tsprc/
Or visit the Thrift Savings Plan website
Page updated October 30, 2020