IRS Announces 2022 TSP Contributions Increase

TSP Contributions

The IRS has raised the standard investment limit for the TSP and other 401(k) type retirement savings plan to $20,500 for 2022, up from the current $19,500. The Catch-Up maximum has not been announced.

ROTH contributions

The maximum amount you can contribute to a Roth IRA for 2022 is $6,000 if you’re younger than age 50.

If you’re age 50 and older, you can add an extra $1,000 per year in “catch-up” contributions, bringing the total contribution to $7,000

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