Tue. Feb 20th, 2024

TSP contribution cap to rise next year

December 14, 2023

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The Internal Revenue Service recently announced the 2024 contribution limits for the Thrift Savings Plan, or TSP.

Postal Service employees can contribute up to $23,000 in 2024, an increase of $500 from this year. Employees over the age of 50 can take advantage of the TSP catch-up option if they wish and contribute an additional $7,500.

USPS encourages employees who are not maxing out their contributions to consider increasing their contribution amounts whenever they can to reach their retirement savings goals.

To make changes to TSP contributions, employees should go to LiteBlue to access PostalEASE. To make changes to their investment fund, employees should visit www.tsp.gov.

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