By Alessandra Malito
Published: November 1, 2017
401(k) plans have the spotlight under the proposed tax plans, but not for the right reasons.
The “Rothification” of a 401(k) plan isn’t necessarily a bad thing, but instead of making it either or, policy makers should consider offering both traditional and Roth plans to employees, said Byrke Sestok, a financial adviser at Rightirement Wealth Partners in White Plains, N.Y. “If you are financially knowledgeable, you’ll appreciate having the choice between traditional and Roth 401(k) or 403(b) contributions, and you’re also more likely to make the retirement savings contribution you need,” he said.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Third party individuals and entities mentioned in the article are not affiliated with IFP, Rightirement Wealth Partners or LPL Financial.