An American singer and actor best known for his role as Festus Haggen on the long-running television Western drama, Gunsmoke. Born in Lamar, CO (882). Jack Dempsey (1895 - 1983) Born William Harrison Dempsey. American professional boxer and world heavyweight champion from 1919-26.
A rollover is considered an entirely different action from a contribution. Thus, the amount of a rollover has no impact on the contribution limit for the year. If you roll $100,000 from a traditional IRA to a Roth in 2013, you can still contribute $5,500, or $6,500 if you are 50 or older, to the Roth.y contrast, you must stop putting money in a traditional IRA and start taking distributions from the account at age 70 1/2. Consequently, some taxpayers choose to roll traditional IRA or other retirement plan assets into a Roth IRA.
But some workers may be able to circumvent the pro rata rule with what financial planner Kevin Reardon calls a 401(k) rollup. If you participate in a 401(k) plan that allows you to roll IRA money into it, you can move all your deductible contributions and any pretax earnings into the 401(k). Because employer plans only accept pretax money, just the nondeductible contributions will be left in your IRA -- and you can do a tax-free conversion to a Roth, says Reardon, founder of Shakespeare Wealth Management, in Pewaukee, Wis.