Can I contribute to TSP and a 457b plan?

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I work for the VA and max out on the allowable contributions. I also teach class at a state University that offers a 457b plan. Can I contribute to both the TSP and the 457b plan?

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Posted by (Questions: 1, Answers: 1)
Asked on December 29, 2017 7:49 pm
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Yes you can. 457(b) plans are treated differently than other employer sponsored retirement plans and contributions to 457(b)s are not aggregated with other employer sponsored plans. Here’s what the IRS says at https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan
“You have a separate deferral limit if you’re also eligible to participate in a 457(b) plan. It is not combined with your deferrals made to a 403(b) or other plans. In 2018, you may defer the lesser of $18,500 or 100% of your includible compensation to a 457(b) plan ($18,000 in 2015 – 2017). The plan may also permit catch-up contributions”.

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Posted by (Questions: 0, Answers: 43)
Answered on December 30, 2017 3:14 pm

Mr. Grobe, – Thank you for this very helpful information and the link to the IRS.

( at December 30, 2017 6:57 pm)