New Law OKs “In-Plan” Roth 401(k) Conversions; Year-End Action May Be Desirable

By on October 27, 2010

by Joseph S. Adams, Paul J. Compernolle, Jeffrey M. Holdvogt, Maureen O’Brien, Patrick D. Ryan and Elizabeth A. Savard

Employers sponsoring 401(k) or 403(b) plans should give immediate consideration to recently enacted legislation that allows participants to convert their retirement accounts in such plans to Roth accounts in 2010 and avoid some of the plan sponsor concerns that existed under prior law. With a potential increase in individual income tax rates looming in 2011, plan sponsors may be under pressure from executives and other plan participants to permit such conversions prior to the end of the year. 

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