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Well I guess it depends on which article you read.
The bankrate article cites a survey done of plan administrators a couple of years ago and almost half said the plan they administer allows it. It’s not a rare thing to be offered these days
The bankrate article cites a survey done of plan administrators a couple of years ago and almost half said the plan they administer allows it. It’s not a rare thing to be offered these days
I don’t know a single person that has such an option in their retirement plan. However, it may be that it is offered and they are completely unaware of it. It certainly is not an option in either of the two plans that Are offered by my employer. I wish it was.
I don’t know a single person that has such an option in their retirement plan.
I have it, I can either make contributions to a "401k" or "401k Roth" with the Roth being post-tax contributions of course. The maximum annual 401k contribution limit applies to the total of both types of contributions but you can mix and match between them.
The reason I don't do it is because I do a backdoor Roth for the max anyway and i'm in a relatively high tax bracket of 33.3% between Federal and State so I would rather take the tax deduction but for someone in a lower bracket it is definitely worthwhile!!
I don’t know a single person that has such an option in their retirement plan. However, it may be that it is offered and they are completely unaware of it. It certainly is not an option in either of the two plans that Are offered by my employer. I wish it was.
I’d guess it’s most likely that people are entirely unaware of it. I work in financial services and most of my coworkers have no idea what I’m talking about when I bring it up
I have it, I can either make contributions to a "401k" or "401k Roth" with the Roth being post-tax contributions of course. The maximum contribution limit applies to the entire amount but you can mix and match it between Roth 401k and Non-Roth 401k.
The reason I don't do it is because I do a backdoor Roth for the max anyway and i'm in a relatively high tax bracket of 33.3% between Federal and State so I would rather take the tax deduction but for someone in a lower bracket it is definitely worthwhile!!
Those two options aren’t what I’m speaking of. The possible options are 401k pre tax, Roth 401k(which is post tax) and after tax non Roth.
The first two buckets are limited to 19k a year in combination, the last is limited to 56k a year. Now the 56k limit includes employer contributions and any amount contributed to the three buckets
I don’t know a single person that has such an option in their retirement plan. However, it may be that it is offered and they are completely unaware of it. It certainly is not an option in either of the two plans that Are offered by my employer. I wish it was.
I had it at my last employer and I made great use of it. :-)
I’d guess it’s most likely that people are entirely unaware of it. I work in financial services and most of my coworkers have no idea what I’m talking about when I bring it up
Not every company does offer a Roth option
My husband’s didn’t
One company my son worked for did—and he took it
Hoping it pays off later in life
I have it, I can either make contributions to a "401k" or "401k Roth" with the Roth being post-tax contributions of course. The maximum annual 401k contribution limit applies to the total of both types of contributions but you can mix and match between them.
No, that is not what we are talking about. I have those two options myself.
Not every company does offer a Roth option
My husband’s didn’t
One company my son worked for did—and he took it
Hoping it pays off later in life
We just started having a ROTH option in December. First time I have ever had that option in a retirement plan.
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