Hello all,

Our local school district offers teachers 3 retirement plans, TRS 1 2 or 3, a 457 and a 403b. The TRS 3 seems to be mandatory and allows teachers to invest between 5% to 15% of their salary. However, in addition, they are also allowed to invest into the 457 and/or the 403b. I am under the impression that the IRS allows a teacher to max out their 457 in addition to what they are contributing to their TRS 3 even if it exceeds 18K for 2015 and that they could theoretically maxed out both accounts in any given year for a total of 36K in retirement savings. My first question, is have I come to the correct conclusion about the dual contribution limits? Second, is the 403b a third account that can be max funded in a calendar year, or does that account only allow a teacher to invest an additional sum up to the 18K that was not invsted in the the TRS? A big thanks for your help!

Reference: Bellevue Schools, BSD405.org