Does Bank of America do a Mega Back door 401K?

like
Posting as :
works at
You are currently posting as works at

Who is your plan administrator? I believe you can through Merrill Lynch.

It is Merrill. I don't work there, a friend does. My sister is at Wells Fargo and I know they don't do it.

For Fidelity it's dependent on the plan. I've had some plans where I didn't even have an after tax option.

Just tell the account holder to call up and ask if the plan allows for after tax contributions and in-plan conversions aka mega back door conversion. Also ask of it's automated.

Related Posts

Hi - I’m currently reviewing an IT analyst job offer at Orion Health (an IT company specializing in healthcare software). I have approx. 2 years of experience, and I’m being offered a base salary of $85,000. Would it be realistic/fair to negotiate to $90,000, or is that asking for too much? Any thoughts?

like

LCSW 50k loan repayment- Has anyone been granted a contract through the National Health Service Corps Loan Repayment Program? I’m interested in applying for the 2 years of full time work as an LCSW but my loans are a bit under 50k so I’m wondering if they would only give me what I need to clear my loans or would I still get 50k as long as I complete my contract ?

Any MBB particularly strong in the healthcare space? Any examples of the sort of work being done there?

like

Does anyone have leads for a recent MPH Epidemiology grad with 0-2 YOE to get into consultant roles in Healthcare/life sciences?

Second question: what sort of work experiences are companies like flatiron and komodo health looking for to work in RWE/heor? I'm not sure how to leverage Epidemiology to get into that space :(

Starting PwC tax in the summer, is there any WFH equipment reimbursement? Just asking if I should buy some things now or wait till I start. Also, any recommendations for WFH equipment are highly appreciated!

like

What are some additional maternity benefits or perks at your firm (beyond leaves)? I have heard of Amex gift cards, firm-based support groups, free counselling, goodies (parenting books, water bottles), free pump... what else?

like

What are some legitimate WORK FROM HOME side gigs I can start making money from within the first week? I do Doordash now, but it’s incredibly over saturated in my area. At this point I’m just wasting gas.

like

What do I need to do regarding my Amex before leaving the firm

like

With over 15 years experience in healthcare I accepted a role as a manager at $125k. But it’s a whole lot of work and I’m wondering if I low balled myself. Can any radiology managers tell me if I should be getting more? No on call or weekends.

like

I’ve invested some after tax money to my 401k and did an in-plan conversion to Roth. Am I able to transfer this money to my Roth IRA? Any particular reason it’s beneficial to do that besides potentially better investment options?

like

What are your biggest challenges/benefits to working with PR Research & Analytics departments?

Does JP Morgan provide $1100 for laptop reimbursement ?

like

Hi, does anyone know much about the benefits/comp/culture at Oliver Wyman Singapore and how it might differ from HK? Also, would like to know what are the main industries they focus on in SG (is it FS)?

like

I retired from teaching in an online Bachelor of Science program after six years last year. Also, I have 12 years of hospital and managed care case management. I have three years writing appeals for denied hospital claims. I decided I do not want to retire. I am looking for a new opportunity to work remotely. I have attained a Master of Science in Nursing Education. Please hire me!

like

I am classified as an agent selling health insurance but there’s a private email I recently gained access to showing the company is using my broker license and I suspected that since I’m the agent of record on a lot of business. They pay for everything including leads but I’m working as an agent in one email whereas there’s another showing I’m using my license as a broker. I get $43,000 salary plus commissions so averaging $80 K a year. Any advice?

like

Hey fishes. I have been offered Management Consultant role with CTC break up in terms of JB, RB, fixed and variable. So is the fixed amount my gross salary without any other deduction except TDS, or will the organisation contribution to PF be also deducted from the fixed component? Also, will claimable components like LTA, mobile bill reimbursement etc. be in addition to this fixed component or will they be included in it?

Debating when to have the first baby… would you say having a baby is totally worth it ? Worth all the struggles and sacrifices? Or should I wait an extra year just to save more money and enjoy life now without the extra sacrifices… (female 27 & want to have 2 kids)

Hi fishes
Please help me in clearing my below queries
1. What is probation period for lateral joinees in lti
2. How much performance bonus is generally provided and which time of year
3. How many types of leaves available and how much.
4. Hidden malpractice or wrongdoing practice in lti by hr and management
5. Benefits and drawbacks of joining lti
6. When will office probably open and what r plan
7. Variable pay amount usually added if 13.5lpa is ctc
Appreciate if someone answer above queries

like

Hello! What are other benefits you try to negotiate for when starting a new job? Also what is the standard Canadian range for an agency producer? Currently on 85.

like

Hello Everyone,

Is anyone aware of the pay range of a group manager in Evaluserve in Life Sciences and Healthcare group?

Thanks in Advance

like

More Posts

Hey fishes,
Need urgent information.
What could be the in hand salary for below compensation plan?

Post Photo
like

Hi Fishes,

I am a TechOps Analyst with 6+years of exp. In application/production support. I enjoy my work and love to work on process improvement tasks like automation, better documentation or giving training to team members. I am currently looking for job opportunities. Please suggest/refer if there are any openings in your organization.

Domain worked: Banking/Finance , Telecom Tech Skills: Unix, SQL, Shell scripting, Azure and AWS fundamentals

like

Need genuine suggestons..

Which one is better:

70000 SGD Singapore, or

20 LPA in India..

I am single and looking for onsite exposure, but need some advice on compensation and cost of living there ?

like

Hi Fishes,

please provide your suggestions between these offers , lwd is 19th

FactSet (~19 LPA)
Siemens (STSPL)(16 LPA)
IBM (16 LPA)


Thanks

like

Is having a CIA and CFE with no CPA worth it?
Is this looked down upon? Planning to just stay in forensics or hop back to IA down the line

like

How does everyone approach the budgeting/financial process when purchasing a watch? Interested in some perspectives on this

E.g. Re-sale value, total liquid wealth, % of post-tax income to cost

like

Are these mattresses a good deal on Costco and which one is better?

Post Photo
like

Anyone knows about hybrid model in 2023 ?

Rumours are bank will start 3 days mandatory WFO for all teams.

like

Hi fishes,
Among Valeo, Ust global , Coforge
Which will help me in terms of career growth and yearly hikes.
3 YOE - Java, spring,angular

like

Excel or PowerPoint? Which one do you dislike more? Assuming that you do, in fact, dislike them.

like

Help this is probably dumb. I have a workbook with 30 tabs. Is there a quick way to separate each in to its own book or should I copy one a time?

like

Screwed..... Bag got gate checked on SFO-ATL flight😡

like

How long does it take for a fresher to get promoted in DXC on an average?

Being in TCS ,the only time I get promotions is on this app 😒

Post Photo
funnylikeuplifting

People who don't have new year plans or planning to make one. Feel free to connect over @HeyDoesntMatter on telegram.

Lets connect if free for conversation.

like

Hello Guys,
Which is better to opt - New tax regime or old?

like

Haven't heard too much about TBWA/ Chiat Day New York, has anyone?

like

Has anyone used VBA to create multiple what-if data tables before?

Nicest Hilton in Dallas? Trying to use that Diamond status and get a decent upgrade.

like

What are some of your fav OTT partners?

helpfullike

Additional Posts in Personal Investment Chatter

Any thoughts on SFY and SFYX? Both are 0% ER growth ETFs. Too good to be true?

like

Anyone in here in Baton Rouge Louisiana? 

like

Anyone familiar with REITs? What’s a good one to help balance risk of equity holdings?

like

I’m a recent undegrad grad (graduated 8 months ago) making ~100k. I put 6% in my 401k and about 6-700 in my betterment portfolio, but I live check to check, which is quite embarrassing. Any advice ?

like

I live in NYC, does it make sense to focus only on traditional retirement account since my tax rate is so high between federal and state?

like

Seems like the mantra is "buy every dip"

likefunny

Advice for boxes to check/things to confirm before putting in a 2-week notice?

I have a 401k, vested stock, etc.

like

Need to move traditional 401k balance from old employer somewhere. Is it better to move to my new employer’s 401k plan (assuming the investment options are decent) or an IRA? I max my contributions to the limit if that matters. Thanks!

like

Used car prices starting to come down?

like

Is today a chance to buy? Or should we wait for more dip.

Please don’t reply “Don’t time the market” :) Already in the market for long term. Little bit of speculation won’t hurt :)

like

Anyone having trouble opening a vanguard Roth IRA via their website? I have not been able to create an account for the last few weeks. I’ve tried calling but been put on hold for far too many hours. Should I just use a different brokerage? If I choose a different one can I still buy vanguard ETFs, because those are really the ones I wanted.

like

Noob question - how is developing and selling NFTs different from developing and selling digital art? Other than transactions happening on block hain and through crypto is there any other difference? Why is it such a hyped topic?

like

For those that pays financial advisors (not robo), what are the qualifications you look for in your convos? They all sound the same. And is 1% pretty standard for entry level 250k?

like

Comment your worst Day Trading loss / experience:
I lost $15k closing out my $GME position earlier this week.

likefunny

Can someone explain how a megabackdoor roth works?

like

Hi Guys, I have recently joined a new firm with high deductible health plan and HSA on 6th Dec.
I wanted to know if I'm eligible for full contribution to HSA for 2021 or not? Is anyone aware of the rules?

like

If I am currently making 90k a year, I assume Roth is a better choice than Traditional for 401k?

like

Should I max out my 401K? Or just put in the company match, and use the rest in personal stock investments? I think I can make more with stock than a 401K will

like

Tips on a simple strategy to manage finances when in the US - with intentions of living in France by 2026?

like