Contributing to an IRA Outside of the TSP

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By on July 30, 2014 in Q&A, Retirement with 0 Comments

egg labeled 'IRA' sitting inside of a bird's nest

Q: You have mentioned that a person should (if they can afford it) contribute to an IRA outside of the TSP. My question is, since I am contributing $161.00 per pay period to the Roth part of the TSP, and the rest of the $23,000.00 to the regular TSP, am I still allowed to contribute to a Roth IRA on the outside? My current salary is a little over $83,000.00 per year.

A: Yes you can.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at [email protected] to discuss schedules and costs.

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About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.