Google: backdoor Roth.

It's a moderately complex topic. Personally, I just learned about this technique. From what I can tell it really benefits 2 types of folks. First those who want to save more for retirement than their plan allows or second those with an enormous amount of cash on the sides that they'd like to shelter from tax.

The way over simplified version is this . . . first, you need a single standard IRA at Schwab with no other old IRAs that have a value much larger than the one at Schwab. Second, you fund the IRA with after tax money and tell Schwab you want to change it to a Roth, but there is some question about how long you need to wait between funding and switching.

Like I said it's complicated; just like everything else with our crazy tax code