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KoalaBear1
February 6, 2023
Question

Can you contribute to both employer sponsored retirement plan and IRA

  • February 6, 2023
  • 2 replies
  • 0 views

So you'll have both both employer sponsored 401K or 457b and Roth IRA per tax year.   Is this allowed?

      2 replies

      AmyC
      AmyC
      February 6, 2023

      Yes provided you qualify with the income limitations. For TY22 contributions phase out at these levels:

      • MFJ 204,000-214,000
      • Single, HOH  $129,000-144,000
      • MFS $0 - 10,000

      You can contribute up to $6,000 under age 50 or $7,000 if age 50 and above.

      **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
        xokazchaz
        xokazchaz
        February 22, 2023

        AmyC  thank you very much it was just what I was looking for too, you have detailed it perfectly 

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