2023 TSP Contribution Tables

[james857]

@angel4sin23 I’m thinking she was confusing TSP max with IRA max. Numbers would check out if so.

 

[mudhen]

@patto That 4.6% pay bump is rough, especially with recruitment goals not being met across the board

 

[yandere]

@mudhen Wait till you hear what the average civilian pay increase is

 

[mudhen]

@yandere Wow man, great point! I should never expect a pay increase in pace with inflation

 

[yandere]

@mudhen My point is that this pay raise is better than 90% of what other Americans are getting so it wouldn’t affect recruiting considering the shitty alternatives. Additionally, our pay raise is based upon the previous years civilian pay and with consideration to the CPI. It will always lag because of the way this is calculated. It’s not rocket science. I would assume a much larger pay raise next year if inflation continues and civilian pay starts to increase.

Also I can’t speak for other services but I’m in the navy and navy recruiting has met goals for enlisted this year. It did not meet officer quotas. There seems to be a prevailing myth (at least on r/navy) that recruiting is so bad but that’s not true.

 

[mudhen]

@yandere

It will always lag because of the way this is calculated.

It did not meet officer quotas.

Wow, great. Just go waste someone else’s time, you’re trying to argue with me but you’re also proving my point.

 

[bensherie]

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[nate8u]

@mudhen You can thank the Biden administration for that one

 

[tbslee]

@patto I’m confused what the different tables mean

 

[patto]

@tbslee If you are under 50 and just want to max out the TSP evenly over the year, Table 1 shows you how much to contribute. Some people who are under BRS want to contribute a little more each month to get more money in the TSP earlier. The problem with that is if you contribute too much you can max out before the end of the year and lose out on matching contributions. Table 2 shows the maximum you can contribute and still ge the full match all year. Tables 3 and 4 have the same purposes as Tables 1 and 2, respectively, but they are for people who are 50 and older and can make catch-up contributions. Basically, here is who should use each table.

Under 50 and want to max out the TSP, contribute at least the amount in Table 1.

Under 50 and want to make sure you get the match all year, contribute no more than the amount in Table 2.

50 and older and want to max out the TSP, contribute at least the amount in Table 3.

50 and older and want to make sure you get the match all year, contribute no more than the amount in Table 4.