No, in order to provide for designated Roth contributions, a 401(k) or 403(b) plan must also offer pre-tax elective contributions. Yes, a plan that provides for a cash or deferred election can stipulate that contributions will be made in the absence of an affirmative election by you declining participation.

No, designated Roth contributions are treated the same as pre-tax elective contributions when performing annual nondiscrimination testing. Yes, a plan can provide that the highly compensated employee (HCE), as defined in section 414(q), with elective contributions for a year that include both pre-tax elective contributions and designated Roth contributions may elect whether excess contributions are to be attributed to pre-tax elective contributions or designated Roth contributions.

No, there are no limits on income in determining if designated Roth contributions can be made. Of course, you have to have salary from which to make any 401(k) or 403(b) deferrals. The employer can make matching contributions on designated Roth contributions. However, only an employee's designated Roth contributions can be allocated to designated Roth accounts.

No amounts other than designated Roth contributions and rollover contributions (and earnings on such contributions) are permitted to be allocated to a designated Roth account. Therefore, forfeitures, matching or any other employer contributions may not be allocated to the designated Roth account. No, the election to make designated Roth contributions is irrevocable. Once they are designated as Roth contributions, they cannot later be changed to pre-tax elective contributions.

Yes, you can make contributions to both a designated Roth account and a traditional, pre-tax account in the same year in any proportion you choose. However, the combined amount contributed in any one year is limited by the 402(g) limit - $15,000 for 2006 ($15,500 in 2007 plus an additional $5,000 in catch-up contributions if age 50 or older).

The plan administrator or other responsible party with respect to a plan with a designated Roth account is responsible for keeping track of the 5-taxable-year period for each employee and the amount of designated Roth contributions made on behalf of such employee. In addition, the plan administrator or other responsible party of a plan directly rolling over a distribution would be required to provide the plan administrator of the recipient plan (i.e.

No. Employer sponsored 401(k) plans must offer Elective Deferrals as an available option to participants in order to allow for Roth 401(k) contributions.

A designated Roth contribution is an elective deferral to a section 401(k) or 403(b) plan that has been designated irrevocably by an employee as not excludable from the employee's gross income and to be deposited into a designated Roth account under the plan.

A designated Roth account is a separate account under a section 401(k) plan or section 403(b) plan to which designated Roth contributions are made, and for which separate accounting of contributions, gains, and losses is maintained. This separate accounting requirement applies at the time the designated Roth contribution is contributed to the plan and must continue to apply until the designated Roth account is completely distributed.

Roth contributions are elective deferrals made on an after tax basis within a 401(k) plan. Since these contributions are elective deferrals, they are subject to the 402(g) limit the same as elective deferrals made on a pre-tax basis. If certain withdrawal restrictions are met, the contribution basis and associated earnings are not subject to income taxation at the time of distribution.

You will need to contact your administrator at CRS so that an amendment can be prepared to add this feature. You will also need to work with your payroll provider and investment company holding your plan assets to set the Roth 401(k) contributions up as an after-tax payroll withholding.

All Roth 401(k) contributions are to be included with the same payroll date and frequency as Elective Deferrals. A Roth 401(k) money source will be available in the Contribution Processing section via Plan Sponsor Access referencing participants that have elected Roth 401(k) contributions.

Yes, the combined amount contributed to all designated Roth accounts and traditional, pre-tax accounts in any one year for any individual is limited by the 402(g) limit - $15,000 for 2006 ($15,500 in 2007 plus an additional $5,000 in catch-up contributions if age 50 or older). The rules regarding frequency of elections apply in the same manner to both pre-tax elective contributions and designated Roth contributions and must be specified under the plan.

A qualified distribution is generally a distribution that is made after a 5-taxable-year period of participation and that either: In the case of distribution to an alternate payee or beneficiary, the age, death or disability of the employee is used to determine whether the distribution is qualified.

No, it is not a new type of plan. Designated Roth contributions are a new type of contribution that can be accepted by new or existing 401(k) or 403(b) plans. This feature is permitted under a Code section added by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), effective for years beginning on or after January 1, 2006.

No. SEP contributions can be made to Traditional IRAs only. While it is possible to convert a Traditional IRA containing SEP contributions to a Roth IRA, subsequent SEP contributions must be made to a Traditional IRA.

If you are single and have compensation from employment or earned income from self-employment and your modified adjusted gross income (MAGI) is less than $95,000, you can make the maximum annual contribution, regardless of your age; if your MAGI is more than $95,000 but less than $110,000, you can make a partial contribution.

Roth 401(k) contributions are added to regular (tax deferred) 401(k) contributions in calculating the maximum that can be contributed to a plan. The maximum contribution (both Roth 401(k) AND regular 401(k) contributions) for 2007 is $15,500 plus up to an additional $5,000 if the participant attains age 50 during the plan year.

Roth 401(k) contributions are treated the same as regular 401(k) contributions for purposes of a regular or safe harbor match.

No, but the employee participant may convert the SEP IRA into a Roth and pay the tax due on the conversion.

Yes. A small business owner who elects to open an Individual 401(k) plan may also contribute the maximum dollar amount allowable under current law to an IRA or Roth IRA. However, contributions may not be deductible.

Answer: Once your ministry's plan has been fully implemented, Envoy Financial will provide your ministry's payroll contact with the instruction set for withholding and contributing payroll reductions and/or ministry contributions into the participant's retirement account. Most organizations do salary reductions with each pay cycle, and submit those contributions into the plan on a monthly basis.

You can direct contributions to two investment companies, TIAA-CREF and/or Fidelity Investments These two investment companies offer a full range of diversified aggressive to conservative investment funds. Voluntary (unmatched) or Supplemental contributions may be directed by employees enrolling in the plan for the first time to the Group Supplemental Retirement Annuity (GSRA) contract offered by TIAA-CREF. Voluntary Contributions may also be directed to any Fidelity mutual fund.

No. Only monies from a participant's prior Roth 401(k) qualified retirement account can be rolled over into a participant's Roth 401(k) account within your Plan.

Yes. A spouse who does not earn income but who files a joint federal income tax return can contribute up to $4,000 ($4,500 if you are age 50 or older in 2005 and $5,000 if you are age 50 or older in 2006) to a Roth IRA based on the earned income of the joint filer and the MAGI on the joint return. These contributions are not deductible from current taxes.

Roth 401(k) contributions are added to regular 401(k) contributions for ADP nondiscrimination testing.

Yes, but the total combined contribution for the year may not exceed the maximum contribution described above. You must decide whether it is better to make a contribution to a traditional IRA, which might give you an immediate tax deduction, or contribute to a Roth IRA where you forgo the deduction but have the possibility of long-term growth that may later go untaxed.

The Level Pay Plan helps smooth out the ups and downs of your monthly gas bill by averaging annual gas consumption and costs over a 12-month period. You pay an average bill amount each month instead of actual charges. To sign up for The Level Pay Plan, please fill out the enrollment form. You will receive confirmation on your enrollment.

Yes... we offer flexible payment terms and accept cash, checks, and the following credit cards: Visa & MasterCard true PAY PAL. . Call for more information 310-701-2957 or email us.

Great! Most employers give their employees a dental choice by offering a Willamette Dental plan as a dual choice option with either a traditional insured dental plan, or a self-funded plan.