Roth IRA/ Roth 401 k rollover
Two quick questions:
Can an employee roll over a Roth IRA in to their company’s Roth 401(K)?
Can an employee convert and roll over a traditional IRA to a company’s Roth 401(K)
Thank you!
Two quick questions:
Can an employee roll over a Roth IRA in to their company’s Roth 401(K)?
Can an employee convert and roll over a traditional IRA to a company’s Roth 401(K)
Thank you!
Permalink Submitted by Alan Spross on Wed, 2010-12-29 20:27
1) No. The only place a Roth IRA can be rolled to is another Roth IRA.
2) No. However, if the company pre tax account will accept an IRA rollover, an employee could transfer their pre tax IRA balance into the pre tax 401k or 403b plan account. And if that plan has adopted the recent “in plan” conversion, then such a conversion could be executed to the designated Roth option. Therefore, it may be possible to get funds into the designated Roth option from an IRA using a two step process.
Here is 2010 Rollover Chart:
http://www.mhco.com/Library/Articles/2008/ARoll_Chart_011008.html