partial roth conversions from 401K
Can I convert part of a 401K to a roth IRA? I am still working and would like to continue in the company 401K profit/sharing plan. Bob.
Can I convert part of a 401K to a roth IRA? I am still working and would like to continue in the company 401K profit/sharing plan. Bob.
Permalink Submitted by Alan Spross on Tue, 2009-11-10 18:17
Bob,
If you are still working there, you may well not be eligible for in service distributions. Some plans allow distributions at age 59.5, and if that applies you might be able to do a partial conversion to a Roth IRA. You cannot convert to a Roth option within the plan even if your plan offers a designated Roth option. But you could change your contributions to allocate some or all of your contributions to go to the Roth option.