|Who should use this calculator?||
Use this calculator if you are a FERS employee who wants to maximize Agency Matching Contributions to your TSP account and your 2008 employee contributions by electing a specific dollar amount to be deducted each pay period.
CSRS employees and uniformed services members may also use the calculator to maximize their 2008 employee contributions.
|Why should you use this calculator?||
If FERS employees reach the IRS Elective Deferral Limit before the end of the year, their contributions and their attributable Agency Matching Contributions must stop for the remainder of the year. As a result, those FERS employees will lose some of their Agency Matching Contributions. For more detailed information, read the Fact Sheet Annual Limit on Elective Deferrals.
The dollar amount determined by using this calculator distributes employee contributions over the entire year (or remainder of the year), and thus allows those employees to receive the maximum attributable Agency Matching Contributions.
Warning: This calculator can provide you with a reasonable estimate. However, calculations may vary from actual contribution amounts because of a variety of factors influencing your pay (including pay increases) and the accuracy of the input.
|What information do you need to use this calculator?||