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Author: BookmFool Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121482  
Subject: Re: 403b Basics Date: 3/2/2003 11:44 AM
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Greetings Corey:
I am currently contributing $500 a month to my 403b.

I want to up it to $700 a month. How much does the IRS allow me to contribute - is it a dollar amount or a percentage of my income?


Contribution limits to 403b and similar plans for 2003 is $12,000.

Does contributing to a Roth or any other retirement plan affect the amount I can put into my 403b?

No, but what affects you qualification to contribute to a Roth IRA is your Adjusted Gross Income (AGI). If you're single and your AGI is $95,000 or less, you qualify to fully fund a Roth. If married your AGI must be $150,000 or less to do so.

You should check out the Tax FAQ for much more on Roth and retirement plan issues, or the Fool's retirememt area, as it's important to keep informed on these matters if you're going to be contributing to one of both vehicles.

HTH

Bookm

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