Employers do not offer any type of IRA, they offer 401k plans. Many employers offer both traditional 401k plans and Roth 401k plans. You will need to check with your employer to see if they offer a Roth 401k option.
You must have a roth ira open. When you are separated from your employer, or turn 59.5, you can instruct your employer to directly roll your 401k over to the roth ira.
no
You need to get a form from your former employer. Secondly, open a roth IRA account with a bank. Complete the rollover form and your employer will transfer the funds to your roth IRA.
Any employee, regardless of the type of work he or she performs, is eligible for a 401k if the employer offers it. An employer is not required to offer a 401k, however. If an employer-sponsored plan (401k, 403b, SEP IRA, etc.) is not available, often individuals will contribute to a Traditional IRA or Roth IRA.
Roth IRA investment can contribute support for you when you your employer does not offer a 401(k) plan but you still want to invest for retirement or if you want to invest in a wider selection of investment choices than your 401(k) plan offers.
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not. A Roth grows tax free, while a 401k is taxed when you withdrawl the funds.
You can perform traditional IRA to Roth IRA conversions using websites such as Fidelity and CalcXML. These websites offer calculators that you can use to make these conversions.
Roth IRA calculators can be found online at various sites including one called Dinkytown. Other sites which offer Roth IRA calculators are Marketwatch, Time Value and Planning Tips.
Websites which offer an accurate Roth IRA calculator include MutualofAmerica, Fidelity, Chase and Main Source Bank. Legacy Investments also have accurate Roth IRA calculators.
Yes, the limitation does not apply between a SIMPLE IRA and a Roth/Traditional. However, because a SIMPLE IRA is a "qualified retirement plan" offered by your employer, you may not be able to get a traditional IRA deduction- all depends on your income situation.
There are lots of great websites that offer a roth ira calculator to help you with your investments. Such sites include www.planningtips.com/cgi-bin/roth.pl and www.bankrate.com/calculators/.../roth-ira-plan-calculator.aspx.
Absolutely. That's actually the most common type of rollover. The IRA would need to be a pretax IRA though. If you had thoughts of rolling it directly to a Roth IRA you would first have to roll it to a Traditional IRA then convert the Traditional to a Roth.