Your Roth IRA contribution might be limited based on your filing status and income, which includes the pension and W-2s. Please see 2018 - Amount of Roth IRA Contributions You Can Make for 2018 for details on the limit.
Excess contributions are taxed at 6% per year as long as the excess amounts remain in the IRA. The tax can’t be more than 6% of the combined value of all your IRAs as of the end of the tax year.
To avoid the excess contributions tax:
- withdraw the excess contributions from your IRA by the due date of your individual income tax return (including extensions); and
- withdraw any income earned on the excess contribution.
