I have a Roth 401(k) at an old employer. If I roll it over to Roth IRA, do I have to wait 5 years to draw like I would with a traditional Roth conversion rollover?
*By way of background, I am 54 so this is not a problem today as I have 5+ years, but if the 5 year rule DOES apply, then I would want to do it now so it is not an issue after I turn 59.5. If the 5 year rule DOES NOT apply, then I have no problem leaving it and my traditional 401(k) at my former employer for the extra ERISA protection and the plan fund options are fine.
**I have an existing Roth IRA that is over 5 years old. I wonder if I can role the Roth 401(k) into that account, and whether that matters?
5 year rule: https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp
*By way of background, I am 54 so this is not a problem today as I have 5+ years, but if the 5 year rule DOES apply, then I would want to do it now so it is not an issue after I turn 59.5. If the 5 year rule DOES NOT apply, then I have no problem leaving it and my traditional 401(k) at my former employer for the extra ERISA protection and the plan fund options are fine.
**I have an existing Roth IRA that is over 5 years old. I wonder if I can role the Roth 401(k) into that account, and whether that matters?
5 year rule: https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp