Maximizing retirement contributions


Q. I am a recent VA employee and would like to contribute as much as possible. I have maxed out the TSP and from my understanding, since TSP isn’t an IRA, does that mean I can make contributions outside of the TSP as well?

A. You may be eligible to contribute to an IRA, in addition to contributing to your TSP, but it depends upon a number of factors, including your tax filing status and your income. I suggest that you consult a tax accountant, review IRS Publication 590, and/or use one of the many IRA contribution calculators available from reputable sources on the Internet.


About 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 and view his blog at

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