When orange juice was on sale, my father in law would buy a few cartons and would proclaim \u201cwe\u2019re pushing orange juice this week\u201d.<\/p>\n
If you\u2019re in the retirement plan business, you might be considering pushing Roth 401(k)s this week.<\/p>\n
The budget legislation passed by Congress to avoid going over the fiscal cliff Jan. 1 lets 401(k) participants to convert any money in their tax-deferred accounts to a so-called Roth 401(k) account, if their employer offers one, which can be withdrawn tax-free in retirement. The change is projected to raise $12.2 billion in revenue over 10 years because those who convert will pay taxes now and enjoy tax free retirement savings later.<\/p>\n
If you are a financial advisor or a third party administrator, consider looking at clients who don\u2019t have the Roth 401(k) option and having conversations about the conversion opportunity with those who do have it.<\/p>\n
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