When an employee rolls over a distribution from a designated Roth account in a 401(k) or 403(b) plan to a Roth IRA, the period that the rolled-over funds were in the designated Roth account does not count toward the 5-taxable-year period
A distribution from a designated Roth account that consists of both pre-tax money (earnings on the Roth contributions) and basis (Roth contributions), must be rolled over into a designated Roth account in another plan through a direct rollover.
Employees can contribute to both a designated Roth account and a traditional, pre-tax account in the same year
A designated Roth contribution is a type of elective deferral that an employee can make to a §401(k) or 403(b) plan.
On November 26, 2010, the IRS issued Notice 2010-84 containing guidance for 401(k) and 403(b) plans about in-plan Roth rollovers
The qualified charitable distribution provisions were renewed for 2010 and 2011, allowing individuals age 70½ or over to exclude from gross income up to $100,000 that is paid directly from their IRA or 401K
Under the agreement, the 2001 and 2003 tax cuts would be extended at all income levels for two years in order to avoid a legislative stalemate that would lead to an expiration of the cuts for all Americans on January 1
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers as well as former Wall Street executives that have worked at many of the largest law firms and financial institutions in the country, such as White & Case LLP, Dewey & LeBoeuf LLP, and JP Morgan Chase.