My small company has a fairly standard 401k with vanguard fund offerings. It is managed through Ascensus.
I can make pre-tax or Roth elective deferrals. I can also make in-plan conversions from pre-tax to Roth.
But, I cannot make after-tax contributions. Which means I also cannot do in-plan periodic distributions for after-tax to Roth. In other words, I cannot do the mega-backdoor Roth maneuver.
Why is this not a feature of the plan? Is it hard or expensive to add it?
I can make pre-tax or Roth elective deferrals. I can also make in-plan conversions from pre-tax to Roth.
But, I cannot make after-tax contributions. Which means I also cannot do in-plan periodic distributions for after-tax to Roth. In other words, I cannot do the mega-backdoor Roth maneuver.
Why is this not a feature of the plan? Is it hard or expensive to add it?
Statistics: Posted by WhitePuma — Thu Aug 15, 2024 4:47 pm — Replies 0 — Views 10