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Hi, Is Trading & Investing in stocks banned for software engineers in JP Morgan? What about Mutual Funds, are they restricted/monitored ? Can we trade in Futures & Options ? If not equity stocks, can we trade in commodity exchange? Or maybe Forex exchange? Or Cryptos? Just want to know the boundaries of trading & investment and work accordingly! What are your experiences?
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Yes. PwC does. Call benefits express and they will cut you a check for your post tax balance and then you forward to your IRA account.
Been doing it for a few years now. Once I meet 19k pretax, continued on post tax basis up the the total contribution IRS limit of 56k. Roll the post tax into Roth IRA.
Can be an in plan conversion, but PwC does not have that. The next best option is that PwC’s 401k plan provides for in service non-hardship distributions.
Google: MEGA BACKDOOR ROTH IRA
Called BE. Easy as 1-2-3. Thank you P1. They will issue 2 checks.
Post Tax --> Roth IRA
Gains on Post Tax --> Traditional IRA
I can withdraw as long as I have a post tax balance of $500 or more. Also BE processes the request every Fri, so requests need to be submitted Tue by 4 et.
I am all set. Thanks again.
I don’t believe any consulting firms allow this unfortunately. Mostly tech companies (Facebook and google) do from what I am aware of. Please correct me if I’m wrong
Thanks P1. Very helpful. A couple of follow-ups.
When calling Benefit Express how can I make sure that they only distribute the post tax contributions and not the gain on those contributions?
Also, should I be using some specific terminology to make sure I am not misinterpreted?
Thanks again.
Just give them a call, they deal with this type of requests all day long and are far better equipped to answer this than I am. Actually only know this because they have walked me through the mechanics.
You may have to take a distraction for the gains as well. I was told it’s their procedure to do it in that way. It will come as 2 separate check, one goes to Roth and gains to traditional.
Again, those guys really do have all of the answers.