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Lump sum to external Roth

By Mike Miles on October 5, 2015 IRA

Q. Can an annual leave lump sum be deposited into a non-TSP Roth account? I retired Jan. 2, 2015.
A. It is not considered earned income, so can’t be used as the basis for eligibility to contribute to an IRA account.

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Mike Miles

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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About the Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.
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