Lawrence Livermore National Laboratory


Roth In-Plan Conversions are now available!

The LLNL Benefits Office is announcing a new feature called Roth In-Plan conversion that is now available in the LLNS 401(k) Plan. A Roth In-Plan conversion converts eligible Pre-Tax and After-Tax balances to Roth funds within your LLNS 401(k) Plan account. With Roth funds you have the opportunity to build tax-free retirement savings provided you meet appropriate qualification rules.

You may request a one-time conversion or sign up for automatic daily conversions. If you decide to enroll in automatic Roth In-Plan conversions, the Fidelity recordkeeping system will search for any new After-Tax contributions daily and convert those amounts to Roth funds on a daily basis. This automatic feature provides an opportunity for you to reduce your tax liability on each conversion because it eliminates the time the incoming After-Tax funds could potentially accrue taxable earnings. If you convert After-Tax contributions, you will owe taxes on any investment earnings generated before your conversion date. Income taxes are not withheld at the time of conversion. You must report these amounts when you file your taxes and pay any required tax on the investment earnings. It’s important to talk to your personal tax advisor before making the decision to convert.

Contact a Fidelity representative at 800-835-5095 for more information about the Roth In-Plan Conversion feature or to request a one-time conversion or sign up for automatic daily conversions.

FINANCIAL EDUCATION WORKSHOPS

The Benefits Office has scheduled a series of workshops to provide information intended to increase your awareness of programs available to enhance your future financial security.

Upcoming Sessions:

Basic Guidance to Optimize 401(k) Plan Benefit Potential
12 p.m. to 1 p.m., Tuesday, August 6th, Building 543, Grand Canyon, Rm. 1258.
This workshop will provide a basic overview of contribution limits and available investment options to maximize your investment potential in the 401(k) plan as well as how to enroll.

Attendance is open, and no pre-registration is required. Bring your lunch and your questions.

Basic Overview of UC Retirement Plan (TCP2)
12 p.m. to 1 p.m., Tuesday, August 27th, Building 543, Grand Canyon, Rm. 1258.
This workshop will provide an overview of the retirement and survivor income benefits and other options available for those in TCP2 with UC Retirement Pension Plan.

Attendance is open, and no pre-registration is required. Bring your lunch and your questions.


For a complete list of the 2019 financial education workshops, click here.