Andy

I've converted almost everything into Roth - both IRA and 401k. That's due to two military retirements that we'll receive until we die so we don't want RMDs (and we won't be in a much lower tax bracket). I'll have to convert the Roth 401k to a Roth IRA after retirement to prevent having to take RMDs from that money.

BMEP100

Right. And don’t forget, we’re “woke” now. So there’s that!

APC225

I looked to roll over all of my PRAP a few weeks ago. Turns out I could only roll out my contributions, not the company's, unless I'm retired. It was about a 45/55 split right now.

Andy

I assume you're talking about moving your PDAP to an IRA. I haven't looked into that yet.
I've converted my entire 401k to Roth each year for the last several, including company contributions. Based on past history, I only see tax rates rising in the future.

APC225

Yes, I was referring moving it out of the UAL PRAP into IRAs I opened independent of that, one Roth and the other a Rollover. I did move a small amount from each pot to "test" the process so to speak. Found out the PRAP has two Roth pots as well, company's contribution and my in-plan conversions. Each time I call them I learn something new, and often really important. When it comes time to move it all I don’t want any misunderstandings.

sourdough44

I vote no, whatever that’s worth.

baseball

I think what we need to watch out for is the senior pilots coalition getting active again. They really out muscled ALPA.
Speaking of ALPA. I've looked in the public releases, and in the magazine. I don't see any FIRM commitments from ALPA leadership saying that they are FIRMLY OPPOSED to any age limit raising. I do see communications on a limited basis saying ALPA is not pursuing an age limit increase. I just don't see the wham'0, in four face sort of public statement I really would expect to see on an issue this big. Is it possible ALPA doesn't want to play their cards out in the open for all to see?

If ALPA were more firm publicly, that would put a stop to all this rumor intel.

BMEP100

Well that’s interesting. Are you under 55?

Not sure why you want to roll it over while you are still working, but depending on your state of residence, doing so could, put it at risk of capture in a personal law suit, whereas it is generally protected within the 401(k).

APC225

Over 59 1/2. Not aware of lawsuit issues.

jumppilot

401Ks are protected by federal law and are very hard to get to - like only the IRS can take away 401k money.

IRAs are protected by a patchwork of state laws, with some states determining how much you need to live - the rest is exposed to lawsuits.

“Unlike 401(k) retirement plans and other savings schemes covered under the Employee Retirement Income Security Act of 1974, individually held IRAs are not offered blanket protection from creditors under federal law”

https://www.investopedia.com/ask/ans...en-lawsuit.asp

Can’t withdrawal money from the PRAP/401k while you are still employed with the company that sponsors your accounts. Trying calling Schwab and taking a disbursement. It’s not going to happen.

It can happen with an IRA, however.

If you go out on disability or have to call in sick for an extended period of time, or just want to slow down and fly 1 trip a month, it would be nice to be able to tap retirement investments early. My parents did this - they worked part time (like 2 days a week) the last couple years of their careers and withdrew from their IRAs before full retirement and 401(k) access.

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