This is one retirement saving strategy your boss probably won't support
Higher-earning staff might be asking about a "mega-backdoor" Roth IRA conversion, but there are a number of pitfalls that companies need to know before agreeing to that type of retirement savings plan. Read more at MarketWatch.
Lately, many highly-paid employees have been asking the managers of their corporate benefits programs if they can establish a plan that would allow them to save after-tax dollars into their 401(k) retirement saving plan.
The surge in this heretofore esoteric request is being traced back to a recent Wall Street Journal article headlined “Four Hacks to Boost Your Retirement Savings in 2018.” Among those four suggestions were “Do a ‘mega-backdoor’ Roth IRA conversion.”