Yes. Like all workers with earned income, service members can invest the maximum contribution allowed annually in both a Roth IRA and the Thrift Savings Plan (TSP) in the same year. For service members age 50 and over, additional catch-up contribution amounts also apply. Contribution limits and catch-up contribution amounts are adjusted annually for inflation and periodically increase in $500 increments.
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Can service members invest the maximum contribution in both the Thrift Savings Plan (TSP) and a Roth IRA in the same year?
Last Updated: January 25, 2013
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