Mega Backdoor Roth IRA question

eBay
power Sell

Go to company page eBay

power Sell
Mar 4 10 Comments

For those whose companies support this benefit, is there something you have to do (like call fidelity to enable roth in-service conversion) after joining to enable this?

Or is it as simple as start contributing to both pre and post tax in Netbenefits (for Fidelity)?

TC: 450k

comments

Want to comment? LOG IN or SIGN UP
TOP 10 Comments
  • Google / Eng
    Analphabet

    Go to company page Google Eng

    Analphabet
    Depends. Google has automated it with Vanguard: enroll once, auto converts forever. Other employer (e.g. my wife’s via Fidelity) setups require calling the brokerage each time. It’s plan dependent.
    Mar 4 2
    • Snap
      Khdc83

      Go to company page Snap

      Khdc83
      We have Fidelity and they can set it up to auto convert too
      Mar 4
    • Google / Eng
      Analphabet

      Go to company page Google Eng

      Analphabet
      To clarify, it’s not about Fidelity vs Vanguard, it’s about which plan the employer is offering. My wife’s employer uses Fidelity but their plan doesn’t offer auto convert. We have to call every so often to request manual conversions. On the other hand, there are other Fidelity plans that offer the auto convert.
      Mar 4
  • New
    QEDD47

    New

    QEDD47
    Can someone explain what this is about please?
    Mar 4 3
    • New
      QEDD47

      New

      QEDD47
      You know you could have just scrolled past, right?
      Mar 4
    • I'm not saying that to be rude. I'm saying that because it's a concept that everyone should know about and has plenty of resources on YouTube, etc. Why make someone explain it to you when you can easily read about it?
      Mar 4
  • Virta Health
    s73hfw

    Virta Health

    s73hfw
    For fidelity I think there are two options - either call monthly if you want it rolled out to a roth ira, or call once to set up automatic MBR to roth 401k
    Mar 4 0
  • For fidelity - u have to call once to setup auto roll over.
    Mar 4 0
  • Yes, I had to call to switch on the daily roth conversion.
    Mar 4 0