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ROTH IRA Conversions

ABA JOINT COMMITTEE ON EMPLOYEE BENEFITS  • DATE: February 25, 2010
SPONSORS: The Sections of Business Law; Health Law; Labor and Employment Law; Real Property, Trust and Estate Law; Taxation; Tort Trial and Insurance Practice; and the American College of Employee Benefits Counsel

General Information

A 90-minute TeleConference/Live Audio Webcast
THURSDAY, February 25, 2010

1:00-2:30 pm ET / 12:00-1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT

Moderator: Harvey B. Wallace II , Berry Moorman, PC, Detroit, MI
Speakers: Pamela D. Perdue, Summers, Compton, Wells & Hamburg, St. Louis, MO
Marcia Chadwick Holt, Davis, Graham & Stubbs, LLP, Denver, CO
Steven E. Trytten, Anglin, Flewelling, Rasmussen, Campbell & Trytten LLP, Pasadena, CA

Beginning in 2010, the modified adjusted gross income limit that has prevented Roth conversions for higher income taxpayers no longer applies. What''s more, the income tax on 2010 conversions of Traditional IRAs to Roth IRAs may be deferred to 2011 and 2012. Even after the upfront payment of income tax, will a Roth conversion that maximizes tax free investment growth and provides income tax free distributions produce more benefits for a particular individual? To answer that question, a planner needs to know the conversion rules (and traps), understand if a recharacterization to reverse the conversion is appropriate, and must evaluate how the projection variables impact the converting individual. The conference addresses the following topics:

  • Why a Roth – how Roth IRAs and Traditional IRAs differ
  • Qualified distributions – avoiding the tripwires that cause "tax free" distributions to be taxable
  • The mechanics of a Roth conversion
  • For a limited time only – tax payment deferral on 2010 conversions
  • Second and third thoughts – recharacterization and reconversion
  • The variables – who benefits most in retirement?
  • The variables – estate tax, income tax, and stretch out – whose family benefits the most?


   
ROTH IRA Conversions
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