jimbohoward69
Recycles dryer sheets
- Joined
- Feb 25, 2007
- Messages
- 70
Hey y'all I started working for the Air Force (as a civilian) back in January and have been contributing to the TSP since that time. Pay periods are every two weeks (Begin on Sunday, end on Saturday), with "pay day" being the following Thursday after the end of the payperiod.
My question is this: Does the annual 401k contribution limit go off of when the income was actually deferred or when it is contributed to your TSP/401k account? I'm trying to figure it out so that I don't go over the max at the end of the year.
Scenario: The last two pay periods of the calendar year are 1-14 (Pay Period #1) and 15-28 (Pay Period #2) December. The date when Pay Period #1's deferred funds are deposited into my TSP account is 19 December but the deposit date of Pay Period #2 is not until 2 January 2014.
Do I want to calculate my contributions from now until the end of the year to "hit" $17,500 on the 19th of December (since it's the final contribution date of the year) or is including the last pay period of the year OK in my calculation (although it won't go into my TSP until the 2nd of January)?
I hope my questions made sense. Any feedback would be greatly appreciated!
My question is this: Does the annual 401k contribution limit go off of when the income was actually deferred or when it is contributed to your TSP/401k account? I'm trying to figure it out so that I don't go over the max at the end of the year.
Scenario: The last two pay periods of the calendar year are 1-14 (Pay Period #1) and 15-28 (Pay Period #2) December. The date when Pay Period #1's deferred funds are deposited into my TSP account is 19 December but the deposit date of Pay Period #2 is not until 2 January 2014.
Do I want to calculate my contributions from now until the end of the year to "hit" $17,500 on the 19th of December (since it's the final contribution date of the year) or is including the last pay period of the year OK in my calculation (although it won't go into my TSP until the 2nd of January)?
I hope my questions made sense. Any feedback would be greatly appreciated!