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Plan would allow Roth-type 401(k)s - USA Today

Roth 401(k) Forum Forum Index -> Roth 401k News, Articles, and Information

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Posted: Sun May 22, 2005 3:30 am Post subject: Plan would allow Roth-type 401(k)s - USA Today

Plan would allow Roth-type 401(k)s By Christine Dugas, USA TODAY Posted 2/5/2003 11:58 PM Updated 2/5/2003 11:58 PM A little-noticed provision of the White House retirement proposal would let employers start offering Roth IRA-style contributions to 401(k) plans next year. The feature is likely to appeal to many workers and confuse others, experts say. It would mean that employees could choose between making tax-deductible or after-tax contributions to a 401(k) plan — or a combination. Tax-deductible contributions reduce taxable income the year they are made, and withdrawals of contributions and earnings are subject to income tax. By contrast, earnings on after-tax contributions are tax-free at retirement and are not subject to minimum distribution rules. The 2001 tax package passed by Congress had called for the so-called Roth 401(k) accounts to start.... Full Article Here: http://www.usatoday.com/money/perfi/retirement/2003-02-05-roth-401k_x.htm

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