Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Finance - Investments > Non-Actuarial Personal Finance/Investing
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Upload your resume securely at https://www.dwsimpson.com
to be contacted when new jobs meet your skills and objectives.


Reply
 
Thread Tools Display Modes
  #31  
Old 09-13-2017, 05:36 PM
GoldenGoal's Avatar
GoldenGoal GoldenGoal is offline
Member
SOA
 
Join Date: Jan 2009
Favorite beer: Pilsner Urquell
Posts: 1,258
Default

Quote:
Originally Posted by lulzEMH View Post
Talked to another rep and it turns out we can do an in service rollover six per 6 months. (Guess the after tax money I have in there was prior to some hard cutoff date and not eligible?).

Sounds really promising.
There's a few pitfalls to beware of when doing in service withdrawals. I found this article helpful https://www.kitces.com/blog/intra-pl...to-a-roth-ira/

One in particular,
Quote:
Now, one partial exception to this rule is that if the plan separately accounts for the after-tax contributions and associated growth, it is possible to distribute and roll over just the after-tax and its associated growth but not the rest of the plan. In this case, the pro-rata rule would only apply to the separate accounting share.
.

Determine if the after tax is accounted for separately or you may be subject to the pro rata rule.
__________________
-We are what we repeatedly do. Excellence then is not an act but a habit.

C1 C2 1 2 3F 3L 4 5 6
Reply With Quote
  #32  
Old 09-13-2017, 11:00 PM
lulzEMH lulzEMH is offline
Member
 
Join Date: Aug 2011
Posts: 1,370
Default

Quote:
Originally Posted by GoldenGoal View Post
There's a few pitfalls to beware of when doing in service withdrawals. I found this article helpful https://www.kitces.com/blog/intra-pl...to-a-roth-ira/

One in particular,.

Determine if the after tax is accounted for separately or you may be subject to the pro rata rule.
Thanks that was very helpful. I think mine is tracking separately as thats why I can't roll over my accidental post tax contributions from like 2004 as it was under a different administrator and I'm guessing not tracked. But the new administrator is tracking current post tax contributions and I believe the income related to it and hence why I can take those out. I'll have to verify this though.
Reply With Quote
  #33  
Old 09-14-2017, 11:26 AM
lulzEMH lulzEMH is offline
Member
 
Join Date: Aug 2011
Posts: 1,370
Default

Another odd thing. My plan only allows me to set the after tax contribution up to 15% of salary.

From what I've read the 5500 IRA limit doesn't count toward the 54k max does it? I.E. my wife who has no traditional IRA's and works part time (so 15% max really hits her total Mega Backdoor Roth) could easily do that and roll it over. Although more stuff to track/file at tax time.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 11:24 PM.


Powered by vBulletin®
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.17668 seconds with 11 queries