Sunday, February 25, 2024
HomeLife InsuranceNew Invoice Would Allow Roth IRA to Roth 401(okay) Rollovers

New Invoice Would Allow Roth IRA to Roth 401(okay) Rollovers


A brand new bipartisan invoice launched by U.S. Reps. Darin LaHood, R-Unwell., and Linda Sánchez, D-Calif., would allow retirement savers to roll cash immediately from a Roth particular person retirement account right into a Roth 401(okay) or different sort of Roth-style office retirement account.

As famous in a joint assertion issued by the lawmakers, present regulation prohibits employees from rolling Roth IRA financial savings into workplace-based Roth retirement plans provided by employers.

LaHood and Sánchez say their invoice would particularly permit transfers of employees’ contributions from Roth IRAs to a office designated Roth account, together with Roth 401(okay)s, Roth 403(b)s or Roth 457(b)s.

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