"Fiscal cliff" deal includes change to retirement contribution rules

The legislation to avoid the "fiscal cliff" includes a provision that would allow workers with 401(k)s, 403(b)s and other defined contribution plans to convert to a Roth IRA at any time. Currently, plan participants can only take such a step after three qualifying events. "Basically, the new rule simply means you can now do intra-plan 401(k) conversions from traditional to Roth in the same manner you can do so for IRAs," writes Michael Kitces.

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