TSP and/or 403b

[tornadospotter]

I contribute the max amount to the TSP. But I would like to squirrel away more funds into a 403b. Only thing I can find online is that TSP is similar to 401k. But doesn't necessary say it is. I'm still trying to figure out if I can max contribute for TSP and 403b.

The amount of salary deferrals you can contribute to retirement plans is your individual limit each calendar year no matter how many plans you're in. This limit must be aggregated for these plan types:

• 401(k)
• 403(b)
• SIMPLE plans (SIMPLE IRA and SIMPLE 401(k) plans)
• SARSEP

If you’re in a 457(b) plan, you have a separate limit that includes both employee and employer contributions.

 

[kitty346]

@tornadospotter The limit is a combined $20500 for your TSP and 403b. See https://www.tsp.gov/publications/tspfs07.pdf, page 3.

 

[resjudicata]

@tornadospotter I would open an IRA, you’re not going to be able to contribute anything additional with a 403(b)