Employer terminated Roth 401k-follow up question
Hello All,
I posted a few days ago and I really appreciate all you guys who commented. I do have a follow up question.
I reached out to plan administrator and ask him what are the 4 different amounts on my plan.
- Roth employee elective deferral
- employee elective deferral
- Employer matching
He explained and I understand that Roth was already taxed but employee elective deferral and Employer matching is NOT taxed.
He said the Roth one I can invest right away in my Roth IRA, the other two are NOT taxed and I have to open a separate account for it.
How do I do that and is it better to cash out these 2 and invest the remaining amount to the ROTH account I already set up?
Sorry Newbie here 😐
u/OneWish15 — 2 days ago