ontrack
Familiar Member
Joined: Mar 21, 2011 9:44:36 GMT -5
Posts: 967
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Post by ontrack on May 13, 2011 8:32:25 GMT -5
So I recently switched federal government agencies to one that uses a different payroll provider. I know that my leave will transfer over eventually, it will just take a while. My question is whether my TSP withheld will transfer over. I ask because, at the percentage I am withholding, I will go slightly over the max of $16,500 on my last pay period. I was assuming they would just under withhold that period, but if it doesn't transfer over, I would be in trouble for going over the max. Is this something I have to worry about?
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mwcpa
Senior Member
Joined: Jan 7, 2011 6:35:43 GMT -5
Posts: 2,425
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Post by mwcpa on May 14, 2011 4:50:10 GMT -5
your "new" employer is not going to know what you did at your "old" employer.... you need to watch the withholding to ensure that you do not exceed the allowable amount between the two employers.... failure to do so will result in tax consequences to you.
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sapphire12
Well-Known Member
Joined: Dec 19, 2010 19:02:12 GMT -5
Posts: 1,211
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Post by sapphire12 on May 15, 2011 15:45:56 GMT -5
TSP knows how much you have contributed. They will contact you, probably via snail mail and will reject any amount that will cause you to go over. If I were you, I would contact the TSP directly to verify.
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