Retirement contribution confusion


Im trying to determine the max I can put into my accounts.  I have a 457b at work. I can do Roth and pretax contributions. I recently changed my contribution to 24% ( I think I chose 9% Roth and 15% pretax).  Salary is $62000.   I also have a separate Roth outside of work. I put $3000 yearly.  

I’ve  read I can do $6000 Roth IRA so would that mean the combination of the two accounts?  Or are they considered separate account so I could do $6000 Roth for each.  Also no debt except mortgage of $59000, paying extra each month.  We didn’t save like we should have in our 30s so I’m trying to put as much as possible in retirement to make up for it.



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  • You should be able to put 19500 into the plan at work unless they have a percentage cap that limits that based on your salary.   I'm not sure how the ira limit is impacted at your salary level.   Some plans have catch up provisions based on age but 457b usually does not until you are close to retirement age.   Most plans will have a customer service number that can help with specific plan provisions. 

    • Herman 

      Thanks for your response.  I checked the plan and it does allow catch up provision but not until age 50. I’ve got a few years to go.

  • I think what I hear you asking is can you contribute to a Roth 457b in addition to your $6000 contribution to your Roth IRA. If so, the answer is yes. The $6K limit is for all IRAs combined (Roth plus Traditional), but does not include contributions to other retirement vehicles such as 401(k), 403(b), and 457(b). If you are 50 or older, there are catch-up contribution limits which allow you to put more than the regular annual limits to retirement vehicles.

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    • jenmas 

      Yes that is what I was asking.  I’m glad to hear that I can bump the savings up some more.  

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