New Legislation should prove to be a relief for tax payers. A new law under American Tax Payer Relief Act that was inked on January 2, 2013, enables a new opportunity to convert “in-plan” conversion of pretax payment to Roth (post-tax or after-tax) money. This law is applicable to funds lodged in specific contribution to retirement plans like 401(k), 403(b) and governmental 457(b) plans.
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In-Plan Roth Conversion Now Allowed