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March 3, 2009

Can I split my IRA contribution between my Traditional IRA and my Roth IRA?

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Can I split my IRA contribution between my Traditional IRA and my Roth IRA?

Can I split my IRA contribution between my two Traditional IRA and my Roth IRA?

Yes. Providing your aggregate contribution does not exceed the limit in effect for the year.  Click here for the limits. However, consider whether it is practical to do so as two sets of fees may apply.

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Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Excess deferral

Definition Salary deferral contributions, contributions are limited to the lesser of the IRC § 402(g) limit or 100% of compensation. Salary deferral contributions in excess

Compensation Cap

Definition The compensation cap is the maximum amount of compensation that may be taken into consideration when determining contributions  to employer sponsored retirement plans,  such

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