One of the key retirement provisions in the Build Back Better Act (approved by the House Ways & Means Committee on September 15) targets the use of Roth IRAs by high-income individuals and/or those who have accumulated significant balances. What do you think of these provisions?
The Wall Street Journal highlighted the issue(s) in a recent article, “Retirement Savers Love the Backdoor Roth IRA Strategy. It Might Not Last.” A more detailed (and focused “deeper dive”) analysis by ARA Retirement Education Counsel Robert Richter appeared last week[i] in NAPA-Net. The “problem,” at least as seen by lawmakers, is simple—the solutions, as you might expect, are—well, let’s say “complicated.”
This week, we’d like to know what you think—and what you’re hearing—about each of these key elements. Will they work, are they (long) overdue, are they more trouble than they’re worth, will they have unforeseen (negative) consequences, and will they (actually) happen?
You can respond (anonymously) to this week’s NAPA-Net Reader Radar Poll at https://www.research.net/r/SBXPD7H .
And, of course, we’ll have it all sorted out for you on Friday!
Photo: Wikipedia
