403b/401k Roth Conversion?
I was wondering if it is possible to do a Roth Conversion on an in service traditional 401k or 403b?
Also, is is possible to do a roll over from an in service Roth 401k or 403b to a Roth IRA?
I was wondering if it is possible to do a Roth Conversion on an in service traditional 401k or 403b?
Also, is is possible to do a roll over from an in service Roth 401k or 403b to a Roth IRA?
Permalink Submitted by Alan Spross on Thu, 2009-08-27 21:58
Yes, if the employee meets plan requirements for non hardship in service distributions, a direct Roth IRA conversion can be done (income limits still apply until the end of this year). Alternatively, the funds can be transferred to a traditional IRA and then converted to a Roth IRA.
The same is true for rollovers to a Roth IRA from a designated Roth account (Roth 401k or 403b).