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Thread: Roth TSP and Roth IRA

  1. #1

    Join Date
    Sep 2010
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    Default Roth TSP and Roth IRA

    Do contributions for Roth TSP and a Roth IRA count towards the same dollar number? For example, if I contribute $5,500 to my Roth IRA account, can I contribute anything to my Roth TSP account? My initial thought is that this wouldn't be a problem since Roth TSP would fall under 401(k) rules. Before I dump another max contribution into my Roth IRA, I want to ensure I can still make Roth TSP contributions.

    Any clarification is greatly appreciated.


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  3. #2

    Join Date
    Feb 2007
    Location
    San Diego, CA
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    6,999

    Default Re: Roth TSP and Roth IRA

    From IRS.gov

    2012 limit $5,000 (6,000 - 50 yo or older)

    2013 limit $5,500 (6,500 - 50 yo or older)

    So, IRA either traditional or Roth combined this year is $5,500 TOPS!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

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  5. #3

    Default Re: Roth TSP and Roth IRA

    Quote Originally Posted by Cod View Post
    Do contributions for Roth TSP and a Roth IRA count towards the same dollar number? For example, if I contribute $5,500 to my Roth IRA account, can I contribute anything to my Roth TSP account? My initial thought is that this wouldn't be a problem since Roth TSP would fall under 401(k) rules. Before I dump another max contribution into my Roth IRA, I want to ensure I can still make Roth TSP contributions.

    Any clarification is greatly appreciated.
    The answer to "Do contributions for Roth TSP and a Roth IRA count towards the same dollar number?" is "No".

    You can contribute $5500 to a Roth IRA and an additional $17500 to your Roth TSP.

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  7. #4

    Join Date
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    6,999

    Default Re: Roth TSP and Roth IRA

    Quote Originally Posted by domingo3 View Post
    The answer to "Do contributions for Roth TSP and a Roth IRA count towards the same dollar number?" is "No".

    You can contribute $5500 to a Roth IRA and an additional $17500 to your Roth TSP.
    I guess he did ask two questions there, thanks domingo.....
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  8.  
  9. #5

    Join Date
    Sep 2010
    Location
    Honolulu, HI
    Posts
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    Default Re: Roth TSP and Roth IRA

    That's good news. Thanks for the help.

  10.  
  11. #6

    Default Re: Roth TSP and Roth IRA

    Never heard the TSP referred to as Roth TSP.

    Edit: Nevermind. Have been out of the service for 4 yrs and it looks like a new program that I'm unfamiliar with.......

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  13. #7

    Join Date
    Sep 2010
    Location
    Honolulu, HI
    Posts
    8

    Default Re: Roth TSP and Roth IRA

    Quote Originally Posted by OMA View Post
    Never heard the TSP referred to as Roth TSP.

    Edit: Nevermind. Have been out of the service for 4 yrs and it looks like a new program that I'm unfamiliar with.......
    Yeah, the Roth TSP started in 2012. Nice to have some options now...

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