Subject:
Roth IRA's
To:
President Barack Obama
Sen. Charles Schumer
Sen. Kirsten Gillibrand
Rep. John Hall
October 22, 2009
The wires reported today that, starting in 2010, a person will be able to roll-over a Regular IRS into a Roth IRA. The article stated the following:
"The change is that starting in 2010, there will be no income limits on who can convert from a traditional IRA to a Roth IRA. Historically, the limit for converting has been $100,000 in modified adjusted gross income. Income limits will still apply for Roth contributions. "
My question is: why will there still be an income limit which applies to Roth Contributions?
It is ridiculous to have an Income Limite associated with one's ability to contribute to their Roth IRA.
I must insist that the current Sallary Limit (above which a person cannot contribute to their Roth IRA) be abolished.
Shrub Oak , NY
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