Mail in contributions?

[Gilligan]

I had a coworker ask me if he could contribute about $1,000 of his IRS refund by sending a check to the TSP. He is under 50 and has not reached his max contribution limit. I did not find anything on TSP.gov saying that this was possible. Does anybody know?

[Show-me]

I had a coworker ask me if he could contribute about $1,000 of his IRS refund by sending a check to the TSP. He is under 50 and has not reached his max contribution limit. I did not find anything on TSP.gov saying that this was possible. Does anybody know?


Damn good question! I just called TSP and the agent said no mail in contributions just electronic contributions. The only exception is if your agency allows bonuses or other special pay to be contributed and I would guess that would be done electronically also. Gotta keep operating cost down. No paper to handle.

[grandma]

How about increasing the contribution amount to match the IRS refund ( over several paydays, if necessary) and use the IRS as paycheck. Seems like I've entered a change just after payday and it was effective the next. Just be sure to figure in all the automatic withholds before you set an amt !! Didn't we have a discussion some time in the not too distant past where someone borrowed from a low interest account, increased his TSP contributions, then paid it back. -...must have been before this last May !!!!

[SkyPilot]

Grandma's suggestion would likely be the easiest, if for no other reason than one would not have to rely on another bureaucrat to get things right. In my case, they would misplace the check :D

[Gilligan]

Thanks everyone!