bilbo1
Oct 17 2000, 08:21 AM
I am currently participating in my company sponsored 401k, my wife is a teacher and has a403b plan. Are we eligible to open Roth IRA's in addition to our other retirement accounts?
Michael Devault
Oct 17 2000, 10:03 AM
Yes, you are, if your adjusted gross income doesnt' exceed the IRS' limits. The limit is $160,000 if you file a joint return or $10,000 (yes, that's 10K, not $100,000) if you file separately.
There are no restrictions on eligibility conditioned on your participation in another retirement plan.
Hope this helps.