Let me get this straight. I’m new to United, but have been doing Backdoor Roth IRAs for years, just not 401k’s. I’ve also never had company contributions to a 401k to deal with.
For example: Assume the company puts 16k in my PRAP this year. If I elect to make it “voluntarily post tax”, I can then roll it at the end of the year to my Roth 401k account within the PRAP, without tax implications other than the fact the company has not been withholding for that 16k?
Can I roll previous PRAP contributions that were “traditional” also into the Roth 401k pot? Assuming, I’m willing to pay taxes as regular income on that recharacterization?
Also, some posters said avoid the Schwab Target Date Funds, why?
I know you should never get tax or investing advice from a bunch of pilots on a public forum
Time to call Schwab...
Thanks.
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