The "fiscal cliff" deal includes a provision allowing workers with 401(k)s, 403(b)s and other defined-contribution plans to convert to a Roth IRA at any time. Until now, plan participants could take such a step only after one of 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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