Hatch cancels plan to end TSP catch-up contributions

November 16, 2017

  • Sen. Orrin Hatch (R-Utah),  the chairman of the Senate Finance Committee,  has dropped a proposed amendment to the Republican-led tax reform bill to restrict “catch-up” contributions to Thrift Savings accounts.  Under current law, federal employees age 50 and older are allowed to make an additional $6,000 in yearly contributions to TSP retirement savings accounts, on top of the annual  $18,000 limit ($18,500 in 2018) to boost retirement savings. (Benefits Pro/Senate Finance)

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