House Approves Bill Allowing In-Plan Roth Conversions

The U.S. House of Representatives has approved a bill that includes provisions allowing retirement plan participants to roll over their assets into in-plan Roth accounts.
 

The bill also allows participants in 457 plans to treat elective deferrals as Roth contributions, effective for tax years beginning after 2010. 

Under the bill, if a section 401(k) plan, section 403(b) plan, or governmental section 457(b) plan has a qualified designated Roth contribution program, a distribution to an employee (or a surviving spouse) from an account under the plan that is not a designated Roth account is permitted to be rolled over into a designated Roth account under the plan for the individual (see “Roth 401(k) Provision in Broader Senate Bill“).

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The legislation, approved by a 237 to 187 vote, now goes to the White House and is expected to be signed into law.

USAA Funds Now on E*Trade Platform

Investors have expanded access to 18 USAA mutual funds through E*TRADE Securities investment platform.

 

Included in the group of 18 funds from USAA Investment Management Company are 12 of USAA’s fixed-income funds and the USAA Precious Metals and Minerals Fund (USAGX).  “Investors want easier access to our mutual funds, and our strategy is to give them that access through any channel,” said Dan McNamara, president of USAA Investment Management Company, in a news release.

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The USAA funds now available through the Adviser Share class on E*TRADE include:

  • USAA Precious Metals and Minerals Fund (USAGX)
  • USAA Intermediate-Term Bond Fund (USIBX)
  • USAA Science & Technology Fund (USSCX)
  • USAA Short-Term Bond Fund (USSBX)
  • USAA Growth & Income Fund (USGRX)
  • USAA Income Fund (USAIX)
  • USAA Tax Exempt Intermediate-Term Bond Fund (USATX)
  • USAA Tax Exempt Long-Term Fund (USTEX)
  • USAA Tax Exempt Short-Term Fund (USSTX)
  • USAA International Fund (USIFX)
  • USAA World Growth Fund (USAWX)
  • USAA Emerging Markets Fund (USEMX)
  • USAA GNMA Trust (USGNX)
  • USAA California Bond Fund (USCBX)
  • USAA New York Bond Fund (USNYX)
  • USAA Virginia Bond Fund (USVAX)
  • USAA Value Fund (UVALX)
  • USAA High-Yield Opportunities Fund (USHYX)

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