Originally Posted by
Pineapple Guy
It was signed by the President into law on December 23rd. Can you think of anything between then and now that has occurred that might have slowed down the ALPA communication machine? Any holidays, maybe? I'm sure ALPA will put something out relatively soon. We've got 180 days to make our contribution.
No. The legislation that passed permits you to make a deposit to a Roth IRA, which is after tax money. That money, and all its gains forevermore, will be tax free when you pull them out of the account in 20, 30, or 40 years from now. That's a great deal for all of us. My hats off to those who made this a reality.
PG
I wasn't being critical of ALPA just asking a question. This is a huge win but I was also under the impression that the taxes that were taken out would be reinstated provided we rolled that money into a retirement plan. I understand how ROTH plans work, but I thought they were going to allow you to roll this money into your normal 401k.