Roth 403b AND Roth IRA?

[macdaddy]

Can an employee contribute to both a Roth IRA account *AND* a Roth 403(b) account? For instance a 25 year old who makes 60k/year. Can he put 4k (the max) into a Roth IRA and 15k (the max) into a "Roth" 403(b) account via work? Work in this case is a public school. I'm a little confused as to whether these contributions would count towards the same limit or not... or whether this is possible... I searched online but couldn't find any answers.

[macdaddy]

Oops, after posting I kept searching and ran across the answer... I don't know if it's possible to delete a new thread so I will just post the answer.

Question: What affect does the Roth contribution have on a Roth IRA?

Answer: None. A participant can contribute up to the maximum amounts allowed to both a Roth 401(k) or 403(b) and a Roth IRA, if eligible.

[LOL!]

While you got your answer already, you may still wish to read this recent article on Roth 401(k)/403(b)s:

http://www.fpanet.org/journal/articl...p0706-art7.cfm

[macdaddy]

Thanks that was a helpful link. After a few phone calls today I found out that 403(b) sub section 7 limits investment options to mutual funds only. For my Roth IRA I have mbtrading.com since they have the lowest fees I could find. Does anyone have any recommendations on the best (lowest fees) brokerage to use for mutual funds for Roth option 403(b) accounts?