Thrift Savings Plan (TSP) Contribution Limits in 2025

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Thrift Savings Plan (TSP) Contribution Limits in 2025

As of 2025, the Thrift Savings Plan (TSP) contribution limits are expected to increase. The maximum employee contribution limit will likely be set at $23,000 for employees under the age of 50, reflecting an increase from prior years. Additionally, those aged 50 and over can contribute up to $7,500 as a catch-up contribution, bringing their total contribution limit to $30,500.

Please check the official TSP website or consult with your plan administrator for the most accurate and up-to-date information as these limits can change based on inflation or legislative actions. www.tps.gov

Are You Ready for FEHB Open Season? 

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Are You Ready for FEHB Open Season? 

Open Season for the 2025 FEHB plan year is underway. Here is some information to help. 

The federal benefits Open Season for the 2025 plan year begins November 11, 2024, and runs through December 9, 2024. This is the event where federal employees and retirees choose their benefits for next year.

During Open Season, you can enroll in new health insurance coverage under the Federal Employees Health Benefits (FEHB) program, change plans or plan options, change enrollment type (to Self, Self Plus One or Self and Family) or cancel coverage. Follow link to read more from FedSmith. https://www.fedsmith.com/2024/11/11/are-you-ready-for-fehb-open-season/

Female Federal Employees in the Home Stretch: Preparing for Your Secure Retirement

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Female Federal Employees in the Home Stretch: Preparing for Your Secure Retirement

If you’re ready to retire from your federal government career, congratulations!

You’re probably looking forward to time off to do new things. But ensuring you have the resources available to support those new things means you must be retirement-ready.

Retirement readiness is more than having enough money tucked away, though that’s important. Now is the time to focus on near-retirement planning as a federal woman employee. Doing so means you’ll have the support to enjoy your post-career life.

Maximizing TSP/IRA Contributions

You might have taken time off to raise a family or care for elderly relatives. Follow link to read more from Serving Those Who Serve. https://bit.ly/3BUkDcv

 

What Does Telework for Federal Employees Look Like Under a Harris, or Trump Administration?

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What is likely to happen with the federal government’s telework policies after the election? 

Since implementation of the Telework Enhancement Act of 2010, federal agencies have leveraged workplace flexibilities as a way to support an adaptable workforce capable of achieving objectives and navigating challenges and workforce needs, according to the U.S. Office of Personnel Management (OPM).

But what can federal employees expect with regard to telework following Election Day — under a new administration in place in January 2025 — with either Kamala Harris or Donald Trump as president? Follow link to read more from FedSmith. https://bit.ly/3NLWd7L

The Beneficiary Liquidity Plan Series. Are There Families Who Cannot Pay?

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The Beneficiary Liquidity Plan Series 

Are There Families Who Cannot Pay?

According to Phil Graham, Founder of The Beneficiary Liquidity Plan, sometimes, there is no one to pay for the funeral expenses. Perhaps the parent that passed away had money, but their children do not. Or, the children do not want to volunteer to pay even if they do have money. In rare cases, there is no family at all and a neighbor is the one left coordinating the final arrangements.

What Solutions Are Available? 

Some families must resort to the Department of Human Services. No one is excited about this solution and it also limits what services are available to the family. There are short-term loan businesses that offer funeral assistance, usually at a high interest rate. Funeral homes are less likely to accept the collateral assignment of an insurance policy, however there are third-party business that will for a fee, of course.