Author Topic: Help with retirement roll over  (Read 900 times)

abhe8

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Help with retirement roll over
« on: January 29, 2015, 11:15:54 AM »
My dh quit his previous job march 2014, but has not yet received the info to roll over his pension contributions. His current job has no retirement. Can he roll it into a Roth IRA? Our federal income tax for 2014 will be $0, but for 2015 it will be much more, so if we can roll it to a Roth, this would be the time to do it, right?

DoNorth

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Re: Help with retirement roll over
« Reply #1 on: January 29, 2015, 12:08:04 PM »
A traditional 401k/pension contributions can generally be rolled into a traditional IRA.  From there; he could do the Roth conversion and pay the tax if he wants (unless he's in a really low bracket).  Generally, only Roth 401k contributions can be rolled directly into a Roth IRA.  Check with the plan administrator for specifics.