Now’s the time to consider other ways to reduce future required minimum distributions (RMDs) too, such as Roth conversions and purchase of a qualified longevity annuity contract.
Converting from a traditional 401(k) or 403(b) to a Roth 401(k) or 403(b) can be a very good retirement planning move if you think that you are in a lower tax bracket today than you will be when you retire. For instance, if you are unemployed and if you can afford to convert this year
The recently signed Small Business Jobs Act contains a provision that permits converting traditional 401(k) or 403(b) retirement accounts into Roth 401(k)s or 403(b)s. The bill was signed in late September and the specifics of it aren’t yet totally clear. For instance, the IRS hasn’t decided exactly which portions of your 401(k) that were contributed by your