457 Plan Directed Rollover to existing Roth Conversion
Individual age 67 converted his IRA to a Roth IRA in February 2010. He now wants to do a (partial) directed rollover from his 457 plan to his existing Roth Conversion IRA. Assuming the plan sponsor will allow it, can this be done? Or does he have to establish a separate Roth IRA? I would appreciate your advice.
Permalink Submitted by Alan - IRA critic on Tue, 2014-05-20 21:29
Yes, a direct Roth conversion can be done and there is no reason to open a new Roth account to receive it UNLESS creditor protection concerns are warranted due to the applicable state not providing IRA creditor protection.