Investment firms busy with Roth IRA conversions spurred by new rule

03/1/2010 | InvestmentNews (free registration)

Investment companies have experienced an increase in business this year because upper-income investors are taking advantage of a new rule that lets people earning more than $100,000 a year to convert to Roth IRAs annually. The Vanguard Group, for example, converted almost 30,000 traditional IRAs into Roth IRAs in January -- nearly 70% of its experience for all of 2009.

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