Contribute to IRA after Retirement

I retired from the Federal Government with a pension but also have both a TSP and a Roth IRA. Since I am past 72, I take the RMD from my TSP savings.

This year also worked part time. Can I contribute all or part of the $4K I earned to my existing TSP or Roth IRA?

236

Employee Finance Expert

Jun 8, 2022 3:26:04 PM

Hi Chas R,

Because ROTH IRA's do not have RMD requirements because they were contributed with after-tax funds, you can contribute up to the allowable limit if needed.

https://www.schwab.com/learn/story/how-does-secure-act-impact-saving-after-age-70

Level 2

Jun 8, 2022 3:51:02 PM

If I use my 2022 earnings to contribute to my existing Roth IRA, do I need to pay tax on my earnings?

Could I contribute my 2022 earnings ($4K) to my existing TSP instead? Is this TSP contribution tax deductible?

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Contribute to IRA after Retirement