News & Analysis as of

Roth Conversions 401k

Warner Norcross + Judd

IRS Delays Roth Catch-up Requirement to 2026

Warner Norcross + Judd on

The SECURE Act 2.0, enacted on December 29, 2022, is the most significant piece of legislation affecting retirement plans in many years. One provision in the Act causing headaches for plan sponsors, payroll providers and...more

Lowenstein Sandler LLP

IRS Delays Effective Date of Roth Catch-up Requirement

Lowenstein Sandler LLP on

On August 25, the Internal Revenue Service issued Notice 2023-62 (the Notice) delaying implementation of a provision of the SECURE 2.0 Act of 2022 that, commencing in 2024, would have required catch-up contributions by...more

Jackson Lewis P.C.

Just Catching-Up? Plan Sponsors Receive Eagerly Awaited Reprieve from Roth Catch-Up Implementation

Jackson Lewis P.C. on

With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement...more

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

Sherman & Howard L.L.C.

SECURE 2.0 Changes for the New Year: Key Takeaways for Retirement Plan Sponsors, Part 2 – Catching Up on Catch-Ups

On December 29, 2022, President Joe Biden signed the SECURE 2.0 Act of 2022 (“SECURE 2.0”), into law as a part of the Consolidated Appropriations Act, 2023. SECURE 2.0 includes a wide range of changes geared toward...more

Jackson Lewis P.C.

More Roth, More Catch-Up, and Catch-Up As Roth, Part 1 of the JL SECURE 2.0 Series

Jackson Lewis P.C. on

The SECURE 2.0 Act of 2022 (SECURE 2.0) contains several provisions that allow the federal government to have its cake (more tax dollars) and eat it too (more retirement savings, easing Social Security challenges). With...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

Proskauer - Employee Benefits & Executive...

In-Plan Roth Rollovers and After-Tax Contributions: Maximizing Deferrals with Limited Future Tax Liability

Plan sponsors seeking to provide employees with the ability to make after-tax contributions to a 401(k) plan may be interested in adding, along with the common Roth contribution feature, non-Roth after-tax contribution and...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

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Opportunities For In-Plan Roth Rollovers

In furtherance of Section 902 of the American Taxpayer Relief Act of 2012 (ATRA), the Internal Revenue Service (IRS) recently issued Notice 2013-74 updating prior IRS guidance regarding so-called “in-plan” Roth conversions...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

Proskauer - Employee Benefits & Executive...

IRS Provides New Guidance on In-Plan Roth Rollovers

On December 11, 2013, the IRS issued IRS Notice 2013-74 which provides guidance on in-plan Roth rollovers. An in-plan Roth rollover is a rollover within a Section 401(k), Section 403(b) or governmental Section 457(b) plan to...more

BakerHostetler

Modification of Roth In-Plan Conversion Rules Provides Participants Greater Flexibility

BakerHostetler on

Tucked in the provisions of the year-end financial cliff legislation (the "American Taxpayer Relief Act of 2012") was a provision which creates greater flexibility in the conversion of qualified plan dollars to tax-free...more

King & Spalding

American Taxpayer Relief Act of 2012: Expanded Roth Conversions and Other Benefit and Retirement Related Provisions

King & Spalding on

On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more

Morgan Lewis

Fiscal Cliff Legislation Expands In-Plan Roth Conversion Opportunities

Morgan Lewis on

American Taxpayer Relief Act extends the existing, limited in-plan Roth conversion option to all amounts under plans that allow elective deferrals, including those amounts not yet eligible for distribution. The American...more

Snell & Wilmer

Fiscal Cliff Legislation Expands In-Plan Roth Conversions for Qualified Plans

Snell & Wilmer on

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”), more commonly known as the fiscal cliff legislation. Among other things, the Act amended the tax code to remove some of...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

Proskauer Rose LLP

American Taxpayer Relief Act Affects Mass Transit Benefits and Other Employee Benefits

Proskauer Rose LLP on

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 ("ATRA") into law. ATRA, adopted as an alternative to stepping over the "fiscal cliff," preserves most of the Bush-era tax cuts and...more

McDermott Will & Emery

New Law Expands “In-Plan” Roth 401(k) Conversions

McDermott Will & Emery on

The American Taxpayer Relief Act of 2012 (the "fiscal cliff" bill) allows employers to amend 401(k), 403(b) and governmental 457(b) plans to permit participants to convert pre-tax account balances to Roth account balances. ...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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