After tax 401k question

[JimboStar]

Does ups's after tax 401k plan allow for in plan conversions to a Roth 401k?

 

[IVE GOTTA PACKAGE 4U]

Does ups's after tax 401k plan allow for in plan conversions to a Roth 401k?

That role is gone so just put the money into the Roth

 

[JimboStar]

What do you mean that the role is gone?

 

[MECH-lift]

What do you mean that the role is gone?

He is drunk

 

[IVE GOTTA PACKAGE 4U]

He is drunk

I misspelled a word but there's no sense of putting money into the after-tax come unless you want to dig pocket full of money when you retire

 

[MECH-lift]

I misspelled a word but there's no sense of putting money into the after-tax come unless you want to dig pocket full of money when you retire

what’s a 401k is a that a type of drink?

 

[IVE GOTTA PACKAGE 4U]

what’s a 401k is a that a type of drink?

If you guys all time to investigate what a savings plan is I can not help you

 

[MECH-lift]

If you guys all time to investigate what a savings plan is I can not help you

SPEAK!!

 

[IVE GOTTA PACKAGE 4U]

SPEAK!!

Save or work forever that is your two choices

 

[DriveInDriѵeOut]

Does ups's after tax 401k plan allow for in plan conversions to a Roth 401k?

Doubt it, call and ask.
I'm almost positive you can in service backdoor the 5% after tax option into a Roth IRA though. Tax would be owed on any gains since the contribution. You'll have a lot more fund options in a Roth IRA too.

 

[Brownwind]

what’s a 401k is a that a type of drink?

Yep. And the internet is now on your computer. Pure genius….

 

[Brownwind]

Save or work forever that is your two choices

You forgot welfare…

 

[Babagounj]

You forgot welfare…

or the lottery.

 

[Phenom5]

Does ups's after tax 401k plan allow for in plan conversions to a Roth 401k?

Why would you need an after tax 401k if a roth 401k is available? All fulltimers really should be doing roth contributions. Pension plus roth is best retirement tax plan.

 

[DriveInDriѵeOut]

Why would you need an after tax 401k if a roth 401k is available? All fulltimers really should be doing roth contributions. Pension plus roth is best retirement tax plan.

Mega Backdoor Roths: How They Work, Limits - NerdWallet

If you're a high-earner who can't contribute to a Roth IRA, a mega backdoor Roth — particularly if your 401(k) plan allows it — might be a solution.

www.nerdwallet.com

The mega backdoor Roth allows you to save a maximum of $61,000 in your 401(k) in 2022. The regular 401(k) contribution for 2022 is $20,500 ($27,000 for those 50 and older) and you can put an additional $40,500 of after-tax dollars into your 401(k) account.

The mega backdoor Roth enables you to take the after-tax dollars you contribute and roll them into a Roth IRA.

 

[Gabba]

there are no in-service rollovers with the teamster plan. you can only roll over the aftertax401k when you end your employment with UPS. or unless they change the rules in the future.

 

[Gabba]

Why would you need an after tax 401k if a roth 401k is available? All fulltimers really should be doing roth contributions. Pension plus roth is best retirement tax plan.

because the aftertax401k does not count toward the contribution limit of the roth401k. one can make aftertax401k contributions in addition to maxing their Roth contributions.

 

[Gabba]

there are no in-service rollovers with the teamster plan. you can only roll over the aftertax401k when you end your employment with UPS. or unless they change the rules in the future.

i thought about it after i said it, realizing that i was just parroting what i've been told. so I called them, and it seem's i might be wrong, inservice rollovers to a set of IRAs roth and traditional may be available for just the aftertax401k portion of our accounts. I don't feel comfortable saying it's definitely possible, but Imma try to see if I can do this and if i can i'm going to do it, and if i do make it happen i will start saying so.