Is Roth contribution possible over and above 403(b) limit of $10,500?

[Guest Joy100]

I am making elective contributions to my 403(B) plans, and max out at $10,500. My salary is $90,000. Can I still make additional contributions to Roth IRA, and if so, up to what amount? My employer also makes contributions to my retirement plan @ 12.5% of my salary.

[Michael Devault]

Your participation in a 403(B) plan does not affect your ability to contribute to a Roth IRA. What does matter is your federal income tax filing status and your adjusted gross income.

If you file single and your AGI is less than $95,000, you may contribute $2,000 to a Roth IRA. If you file jointly with your spouse, the AGI limit goes up to $150,000.

Take a look at IRS Publication 590 for more information. It's available on the IRS' website.

Hope this helps.