Financial Planning with Roth IRA Plan: New Details

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As part of its commitment to educate participants, plan sponsors, and advisors, MassMutual’s Retirement Services Division has published a white paper entitled “Roth Retirement Plan Conversions – Questions and Answers.” Effective September 27, 2010, the President signed into law the Small Business Jobs Act of 2010 allowing participants who are in a retirement plan that offers Roth accounts the ability to convert or rollover their non-Roth account balances into a Roth source under the same plan, provided the participant has a distributable event (i.e. termination of service or in-service withdrawal provision, excluding hardship).

The recently published white paper answers the most common questions around converting 401(k), 403(b), and starting in 2011, 457(b) governmental plans into Roth accounts. Written by Dean Carey, MassMutual Retirement Services Division’s head of ERISA Advisory Services, it reviews the benefits and tax implications of the new law to help participants, plan sponsors and advisors understand some of the intricacies of converting to a Roth plan.

“MassMutual is committed to being a valuable source of information to our clients. We frequently publish white papers and host online seminars to bring clarity to the ever-changing world of retirement services regulation,” says Dean Carey, assistant vice president and head of ERISA Advisory Services for MassMutual’s Retirement Services Division. “We understand regulations can be complicated, making it difficult to understand the complex manner in which retirement plans can be affected. We’re dedicated to working with our advisors and plan sponsors to get participants the information they need to make good decisions for their retirement futures.”

For more information about MassMutual Retirement Services or to obtain a copy of the white paper, please contact your MassMutual sales representative or MassMutual’s advisor support team at 1-866-444-2601.

About MassMutual

MassMutual’s Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers’ defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 1.2 million participants.

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders.  The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

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Contact: Lisa Reilly

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