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A brand new bipartisan invoice launched by U.S. Reps. Darin LaHood, R-Sick., and Linda Sánchez, D-Calif., would allow retirement savers to roll cash immediately from a Roth particular person retirement account right into a Roth 401(okay) or different kind of Roth-style office retirement account.
As famous in a joint assertion issued by the lawmakers, present regulation prohibits staff from rolling Roth IRA financial savings into workplace-based Roth retirement plans supplied by employers.
LaHood and Sánchez say their invoice would particularly permit transfers of staff’ contributions from Roth IRAs to a office designated Roth account, together with Roth 401(okay)s, Roth 403(b)s or Roth 457(b)s.
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