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Match point

Some employees may need to adjust TSP contributions this year

This year has more pay periods than usual, so some employees may want to adjust their TSP contributions.

Since 2015 has 27 pay periods — one more than usual — some employees may need to adjust their Thrift Savings Plan (TSP) contributions to avoid missing part of the Postal Service’s 5 percent match.

This may apply to you if you’re approaching the IRS annual limit of $18,000.

To find out, check the current TSP contribution shown on your earnings statement, available on ePayroll. For employees who contribute less than $670 per pay period toward TSP, no action is necessary.

However, employees who contribute more than $670 per pay period must adjust their current TSP contributions for the rest of the year to ensure their total 2015 contribution doesn’t exceed $18,000.

An employee who reaches the $18,000 limit before year-end will have contributions suspended for the rest of 2015. This means the employee will miss any matching contributions for pay periods in which there was no employee contribution.

To adjust your contribution, visit PostalEase or call the Human Resources Shared Service Center at 877-477-3273 and select option 5.

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