Tax Year 2008 will begin on December 23, 2007 (in pay period 26) and will end on December 20, 2008 (pay period 25). Plan to use Employee Express (EEX) during the week of December 10 - 14, 2007, to make changes to the amount of your TSP contribution for the coming tax year. (You can make changes later during the same pay period, but it’s recommended that you access EEX the first week of the pay period.)
For Tax Year 2008 the IRS elective deferral limit will be $15,500. If you’re a CSRS or FERS employee, this is the maximum amount you’re eligible to contribute to TSP and/or another qualified employer tax-deferred retirement plan. If you’re in FERS , you could spread your contributions over the full 26 pay periods to maximize your Agency Matching Contributions. If you reach the IRS limit...