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Showing content with the highest reputation on 05/27/2022 in Posts
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Convert only After-tax employee contributions via In-plan Roth rollover?
Lou S. and one other reacted to Bill Presson for a topic
😂😂2 points -
In my experience they say the plan is covered for $X but the coverage will increase to the amount required by ERISA (which is 10% of BOY assets). That's why I generally put 10% of opening assets for the bond.1 point
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I think either is acceptable, though with one man plan, I believe it is more common to open a separate ROTH brokerage sub-account to easily track the G/L between sources and transfer from the non-roth to the roth on the conversions. and if the brokerage house will be responsible for 1099-Rs I would absolutely want to set up a 2nd account for the ROTH piece rather than try to argue with them when the eventual distributions are done.1 point
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