One TSP Investment Limit Rising, Other Staying Same

One TSP Investment Limit Rising, Other Staying Same

Effective in 2024, Roth balances will no longer be subject to required minimum distributions prior to a participant’s death.

The standard investment limit for the TSP (and other 401(k) type retirement savings plans) is rising to $23,000 for 2024, from $22,500 in 2023. That “elective deferral limit” is the total investment allowed in traditional balances (pre-tax on investment, taxable on withdrawal), Roth balances (after-tax on investment, tax-free on withdrawal if certain conditions are met) or both, for those with both types of balance. Click HERE to read more.