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The Mountaineer Online



Civilian Employees should review Thrift Savings Plan contributions


Appropriated Fund Civilian Employees who intend to contribute the IRS maximum Thrift Savings Plan contribution (regular and Catch Up) in 2013 should review the cumulative TSP deductions on the leave and earnings statement for which they receive their retroactive pay for the furloughed pay periods, to ensure that they remain on target for the maximum contribution to be met by the pay date of Dec. 26.
Employees who elected a dollar amount for TSP deductions but whose salary was insufficient for that dollar amount to be deducted had no TSP deductions taken for pay period 21.
Defense Finance and Accounting Service will contact these individuals to provide an opportunity to make up TSP contributions for that pay period.
Employees who elected a percentage of pay for TSP deductions had a reduced deduction taken for pay period 21. These employees will have that same percentage taken out of the retroactive pay, resulting in the total TSP deductions for pay period 21 being the same as if full pay had been received during pay period 21.
However, it is recommended that employees review their TSP deductions on the adjusted LES to ensure they will contribute the intended amount for 2013.
The last opportunity to make changes to 2013 TSP deductions is during the pay period of Nov. 17-30. Changes made during this pay period will be effective Dec. 1, which will be reflected on the LES for the Dec. 26 pay date.
The first opportunity to make elections for both regular and TSP Catch Up contributions for calendar year 2014 is the Dec. 1-14 pay period. Changes made during this pay period will be effective Dec. 15, which will be reflected on the LES for pay date of Jan. 9.
Once information regarding maximum contribution limits for 2014 becomes available, it will be posted on the Army Benefit Center-Civilian (ABC-C) website at https://www.abc.army.mil.
Fort Drum Civilian Personnel Advisory Center





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