News & Analysis as of

Roth Conversions 401k Individual Retirement Account (IRA)

Warner Norcross + Judd

SECURE 2.0 is Finally Here! Warner Analysis Part 1

Warner Norcross + Judd on

The long-awaited sequel to the SECURE Act enacted in 2019 is finally here. On December 29, 2022, President Joe Biden signed the Consolidated Appropriations Act of 2023, which includes the SECURE 2.0 Act of 2022 (“SECURE 2.0”...more

Kilpatrick

Build Back Better Act Threatens Backdoor Roth Conversions

Kilpatrick on

The Build Back Better Act, the “social infrastructure” bill that was approved by the House of Representatives on November 19, 2021, includes new restrictions on so-called “backdoor Roth” conversions. Accordingly, if the...more

Jackson Walker

Employee Benefits Legislation Proposed (But Not Passed) by the Obama Administration

Jackson Walker on

In February of 2015, the Department of Treasury issued a reported entitled “General Explanation of the Administration’s Fiscal Year 2016 Revenue Proposals” (the “General Explanation”). The General Explanation is several...more

McDermott Will & Emery

View From McDermott: Expanded In-Plan Conversion Opportunities Will Boost Roth 401(k) Balances

McDermott Will & Emery on

The number of defined contribution plans (including 401(k), 403(b) or 457(b) plans) with a Roth feature has grown significantly in recent years. Roth 401(k) is gaining popularity due in part to tax hedging or tax...more

McDermott Will & Emery

IRS Expands Guidance on In-Plan Roth Conversions

Recent IRS guidance clarifies a number of outstanding questions regarding “in-plan conversions” of non-Roth balances to Roth balances in 401(k), 403(b) and governmental 457(b) plans. In particular, the guidance confirms that...more

Sherman & Howard L.L.C.

In-Plan Roth Conversions

In December of 2013, the IRS issued Notice 2013-74, which provides plan sponsors with guidance on how plan participants can elect an in-plan Roth conversion of pre-tax amounts not yet eligible for distribution from the plan. ...more

Morgan Lewis

IRS Issues Notice on Expanded In-Plan Roth Conversion Option

Morgan Lewis on

Guidance confirms that plan sponsors have flexibility in designing and implementing a feature that allows participants to convert vested pre-tax balances to after-tax Roth balances....more

Davis Wright Tremaine LLP

Roth Conversion Opportunities Expand, But Practical Questions Remain

The recent “fiscal cliff” tax law, the American Taxpayer Relief Act (ATRA), includes a provision effective Jan. 1, 2013 that greatly expands the ability of plan participants to convert pre-tax plan accounts to after-tax Roth...more

Ballard Spahr LLP

Fiscal Cliff Legislation Provides New In-Plan Roth Conversion Opportunity

Ballard Spahr LLP on

The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more

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