Retirement savers get new option with budget agreement

01/5/2013 | AdvisorOne · National Underwriter Life & Health

Legislation that steered the country away from the "fiscal cliff" also included a short-term benefit for retirement savers. A new provision allows 401(k), 403(b) and 457(b) participants to convert their money into Roth 401(k) accounts without waiting for such traditional qualifying events as retirement, reaching age 59½ or changing jobs. "We felt it was always important to level the playing field between IRAs and 401(k)s," said Judy Miller, director of retirement policy for the American Society of Pension Professionals & Actuaries.

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AdvisorOne · National Underwriter Life & Health

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