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Atch-up contributions only IV. FOR SERVICE USE ONLY 13. 11. 12. Participant s Signature 16. Payroll Office Number 14. / / Receipt Date (mm/dd/yyyy) 15. / / Date Signed (mm/dd/yyyy) / / Effective Date (mm/dd/yyyy) Signature of Service Official PRIVACY ACT NOTICE. We are authorized to request the information you pro- vide on this form under 5 U.S.C. chapter 84, Federal Employees Retirement System. Your service will use this information to identify your TSP account a.

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How to fill out the Tsp U 1 C online

The Tsp U 1 C form allows individuals aged 50 and older to start, stop, or change their catch-up contributions to their Thrift Savings Plan account. This guide provides clear instructions on completing the form online, ensuring you can manage your retirement contributions effectively.

Follow the steps to complete the Tsp U 1 C form online.

  1. Click ‘Get Form’ button to access the Tsp U 1 C and open it for editing.
  2. In Section I, provide your personal information, including your name, mailing address, social security number, daytime phone number, state, and date of birth.
  3. In Section II, choose the amount of your catch-up contributions per pay period. Ensure to input whole dollar amounts, indicating separate amounts for traditional (pre-tax) and Roth (after-tax) contributions. Remember, your total contributions cannot exceed $5,500 for the calendar year.
  4. Sign and date the form to certify your contributions, acknowledging your ability to make regular contributions up to the allowed maximum.
  5. If you need to stop any catch-up contributions, complete Section III by indicating which contributions to stop, and sign it.
  6. Once all sections are complete, save the changes, download, print, or share the form as needed. Ensure to return it to the appropriate service office responsible for TSP enrollment.

Start filling out your Tsp U 1 C online today to ensure your retirement contributions are managed effectively.

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As a reminder, the IRS announced the new limits for contributions to TSP in 2023. The maximum amount a participant under age 50 can contribute is $22,500. The catch up for investors over age 50 was increased to $7500 for 2023. The total contribution for employees over age 50 for 2023 is $30,000.

With traditional TSP, your contributions go into the TSP before tax withholding. But when you take money from your traditional TSP, you'll pay taxes on both your contributions and earnings at the income tax rate of the year you make the withdrawal.

Highlights of changes for 2023 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $22,500, up from $20,500. The limit on annual contributions to an IRA increased to $6,500, up from $6,000.

The 2022 catch-up contribution limit for workers age 50 and up is $6,500 ($7,500 for 2023).

"Catch-up contributions" are supplemental tax-deferred employee contributions that employees age 50 or older can make to the Thrift Saving Plan (TSP) beyond the maximum amount they can contribute through regular contributions.

TSP-U-1. ELECTION FORM. ORIGINAL TO PERSONNEL FOLDER Provide a copy to the employee and to the payroll office. Use this form to start, stop, or change the amount of your contributions to the Thrift Savings Plan (TSP).

Starting in the year you turn 50, you become eligible to save even more by contributing toward the Internal Revenue Code (IRC) catch-up limit. That means that if you meet the IRC elective deferral limit and keep saving, your contributions will automatically start counting toward the catch-up limit.

Your catch-up contributions will be in addition to the 2023 TSP regular contribution limit, which means employees can contribute up to $30,000 in 2023. To maximize the catch-up contribution amount of $7,500 for 2023, employees will need to contribute an additional $288 per pay period ($7,500/26 = $288.46).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232