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Author: PMcMullenCT Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75379  
Subject: "Roth" 401K Plus Accounts in 2004 Date: 5/27/2001 2:22 PM
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If you've been looking forward to putting more assets into your 401K plan, after-tax "Roth" 401K accounts are coming in 2004:


SEC. 617. OPTION TO TREAT ELECTIVE DEFERRALS AS AFTER-TAX ROTH CONTRIBUTIONS.

....

`(b) QUALIFIED ROTH CONTRIBUTION PROGRAM- For purposes of this section--

`(1) IN GENERAL- The term `qualified Roth contribution program' means a program under which an employee may elect to make designated Roth contributions in lieu of all or a portion of elective deferrals the employee is otherwise eligible to make under the applicable retirement plan.

....

`(c) DEFINITIONS AND RULES RELATING TO DESIGNATED ROTH CONTRIBUTIONS- For purposes of this section--

`(1) DESIGNATED ROTH CONTRIBUTION- The term `designated Roth contribution' means any elective deferral which--

`(A) is excludable from gross income of an employee without regard to this section, and

`(B) the employee designates (at such time and in such manner as the Secretary may prescribe) as not being so excludable.

....

`(d) DISTRIBUTION RULES- For purposes of this title--

`(1) EXCLUSION- Any qualified distribution from a designated Roth account shall not be includible in gross income.

....

(f) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after December 31, 2003.
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