How to Contribute to the TSP Limit Account Plan
The Thrift Savings Plan (TSP) is strictly for U.S. civil service members and members of the uniformed forces and the federal government. It is a retirement savings plan similar to a 401(K). Because the TSP is a contribution plan, the retirement income is defined by the amount of money contributed. If you qualify for employee contribution, contribute to your TSP account over the course of your working career. Your contributions to your TSP come out of your paychecks.
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Instructions
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Inform your employer that you want to contribute to your TSP plan. Your employer will provide you with a form to fill out regarding your TSP contributions.
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Provide the amount you want contributed to your TSP plan from each of your paychecks on the paperwork you fill out for your TSP account. You can determine the amount you want to contribute as long as the total contribution does not exceed the monthly contribution limit for your particular TSP account.
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Change, stop or modify your contributions at any time. The contributions you provide to your TSP account are taken from your paycheck pretax, and you can change or modify your account contributions by informing your employer.
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Tips & Warnings
Ask your employer if the company participates in employer matching, This is when your employer matches your contributions with a contribution into your TSP account.
References
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