Re: Catch up contribution questions
hello GLC. asking questions and getting answers ahead of when you need them is always a good thing. You will have to divide the catchup amount you want to contribute, whatever that is, among the # of payperiods that will count for taxyear 2017, and make sure you start the contributions in the first payperiod where the paydate for that pp actually hits in calendar year 2017, just like for the regular tsp.
You don't have to do that if you want to periodically contribute a single big chunk from a specific paycheck, like $1K or something, but you'll have to immediately go in and change the catchup back to zero for the very next pp, or it will keep withholding the big chunks every pp after that until you get it changed again. It can be done that way if you pay close attention to what you are doing when. I've sometimes waited til after tax season to start catchup withholding to ensure I was able to also contribute some to a Roth account, then kicked up the pp catchup contributions to get the full catchup through the rest of the pay year.
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
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