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Delphine Hunt Provides Insights on the Mega Backdoor Roth Strategy for Retirement Plans
Delphine Hunt Provides Insights on the Mega Backdoor Roth Strategy for Retirement Plans
The Mega Backdoor Roth strategy has seen a significant increase in adoption over the past five years.[1]
This increased adoption has led many employees to wonder, "Is this available in my retirement plan?" Employers have followed suit, inquiring if this should be made available within their retirement plan offering. Delphine Hunt, Senior Retirement Plan Consultant, was recently featured on, “The Street’s Retirement Daily”, to share insights on this strategy.
In the article, Delphine discussed the intricacies and complexities of offering Mega Backdoor Roth within a retirement plan. She defined the specific provisions that must be allowed for the Mega Backdoor Roth to be available to employees, as well as the potential benefits offering this option within your plan could have on your employees.
“If the plan can meet the testing standards and if the plan includes the provisions needed to make the Mega Backdoor available, it truly can be an effective strategy for those individuals who have the financial ability to put more money into their retirement accounts.”
— Delphine Hunt, Senior Retirement Plan Consultant, OneDigital Financial Services
There are many potential benefits to your employees, but this strategy may not always be a good fit for your specific plan. Delphine outlines the potential demographics, circumstances, and requirements that may make it a good fit.
To learn more about the Mega Backdoor Roth, read the full article here: Is the Mega Backdoor Roth Right for You?
Interested in learning more about OneDigital’s suite of Retirement Services? Visit our Retirement Plan Services Page!
Investment advice offered through OneDigital Investment Advisors LLC.
[1]Source: Barrrons, "This Little-Known ‘Mega Backdoor’ Strategy Is Gaining in Popularity—and Can Seriously Boost Your Savings"