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Tom F

457 and 403B combined limits

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I teach in Indiana and had a question about contribution limits.  

I understand that both plan types have limits.  What I am not sure about is if those limits are considered separate or if they are combined.

In other words is my total contribution limit $19,000, or could I contribute  $19,000 + $19,000 = $38,000?

 

Also a related question.  If I am putting $6,000 in ROTH IRA with Vanguard do I need to subtract that from my 403B/457 limits?

$19,000 - $6,000 = $13,000?

 

 

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You can contribute 19k to both your 403b and 457 plans in 2019. In addition you can contribute 6k to your Roth IRA. The IRA limit is separate from the employer plan limits. If you are over 50, there's a 6k catchup allowed on both the 403b and the 457 plans, and a 1k catchup on the Roth IRA.

Hopefully you have low-cost vendors for your 3 accounts. 

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