Roth TSP & Roth IRA annual contribution

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Q. Does contributing to the Roth TSP affect my Roth IRA annual contribution limits? Can I submit up to the limits of both in the same year ($18,500/year Roth TSP and $5,500/year Roth IRA) if I have a Roth IRA account in addition to my Thrift Savings Plan account?

A. Roth TSP contributions do not affect the limits on contributing to a Roth IRA.

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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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