4:45 pm, July 11, 2014

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  • Bad deal!
    Big Joe
    If you have a Roth outside of the TSP you can save $16,500 in your TSP account per year plus up to $5,000 in a Roth IRA per year. The TSP Roth allows only $16,500 between the two IRA types. Utilizing the TSP Roth would deprive you of the ability to save the maximum amount....if that is a concern.
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  • Joe Is Incorrect (RE: Bad Deal!)
    esquire1072
    Joe, Maybe you should do your homework, before you give advice? Because specifically here, you are sooo wrong. Quoting the IRS, "[...] A contribution to one does not impact your eligibility to contribute to the other. [...]" ________________________ "[...] Designated Roth accounts. Designated Roth accounts are separate accounts under 401(k) or 403(b) plans that accept elective deferrals that are referred to as Roth contributions. These elective deferrals are included in your income, but qualified distributions from these accounts are not included in your income. Designated Roth accounts are not IRAs and should not be confused with Roth IRAs. Contributions, up to their respective limits, can be made to Roth IRAs and designated Roth accounts according to your eligibility to participate. A contribution to one does not impact your eligibility to contribute to the other. See Publication 575, for more information on designated Roth accounts. [...]" SOURCE: http://www.irs.gov/pub/irs-pdf/p590.pdf ; Publication 590 (2010), Individual Retirement Arrangements (IRAs); Chapter 2, Roth IRAs, Reminder; Page 57.
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