Date: Sun, 24 Jul 2005 09:23:29 CST
From: "HW \"Skip\" Weldon" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Roth 401k for 2006
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On 24 Jul 2005 12:40:02 GMT, "jIM"  wrote:


>1) I want my company match to be a Roth 401k account and my
>contributions to be 401k (tax deductable).  How do I set this up?
>2) I want to convert my 401k to a Roth 401k.  How do I accomplish this?
>3) Can I contribute to both a roth IRA and a roth 401k?

There's a lot we don't know yet - hence my trying to start this
thread.  Meanwhile here's my understandings.  If wrong I assume
someone will take great glee in correcting me.  

1. Roth 401k is allowed, not mandatory - some employers will not offer
it. Assuming your employer offers it, matching contributions always go
to the "traditional" 401k, not the Roth.

2. Don't know.  Haven't seen any mention of being able to convert.
Perhaps someone else knows.

3. Assuming your employer offers Roth option, you may contribute to
both, but total contributions are limited to the annual max - this
year $18,000 ($14,000 under 50).  For example, you could send $9,000
to the trad plan and another $9,000 to the Roth.



-HW "Skip" Weldon
 Columbia, SC