2010 Thrift Savings Plan (TSP) Contribution Limit
October 15, 2009
The Internal Revenue Service today announced cost-of-living adjustments which
determine the 2010 Thrift Savings Plan (TSP) contribution limits.
The TSP maximum contribution limit will remain unchanged for
2010 at $16,500. Also, the 2010 TSP Catch-Up maximum contribution limit will
remain at $5,500.
According to the IRS, the limitations that are adjusted by reference to
Section 415(d) will remain unchanged for 2010 because the cost-of-living index
for the quarter ended September 30, 2009, is less than the cost-of-living index
for the quarter ended September 30, 2008, and, following the procedures under
the Social Security Act for adjusting benefit amounts, any decline in the
applicable index cannot result in a reduced limitation. For example, the
limitation under Section 402(g)(1) on the exclusion for elective deferrals
described in Section 402(g)(3) will be $16,500 for 2010, which is the same
amount as for 2009. This limitation affects elective deferrals to Section
401(k) plans and to the Federal Government's Thrift Savings Plan, among other
plans.
For more information go to:
http://www.irs.gov/newsroom/article/0,,id=214321,00.html
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