(If you have to ask …., You’re not one of them).
(And that’s exactly why you should pay attention.)
The strategy to win in retirement is now live.
We’ve officially set in motion the plan we discussed—creating tax-free retirement income by putting a portion of your employer contributions to work. Even better, one part of the Empower platform functionality was completed ahead of schedule, making the entire process effortless and simple for you. Think clicks, & no paperwork per-se.
How do you do this?
Great question. As of right now, this can only be done on a laptop or desktop – the mobile version won’t ride into town until the end of the first quarter of 2026. But really: you’re the Magnificent Seven. A laptop–only hurdle won’t hold you back.
So, saddle up: once you’re logged into your Empower account, here’s how to secure your advantage:
- Click “Account” at the top of the landing page. Within that drop down hover your cursor of over the term “I.B.E.W. Local 697 Defined Contribution Plan” and within the next drop down:
- Select “Balance”.
- Then click “In-Plan Roth Conversions.” (Which is the last tab on the right hand side.) Read that page carefully and in its entirety (It’s not arduous & takes about 3 minutes) then follow the steps and secure this advantage.
Reminders:
- The IRS allows investment earnings from the Plan to be distributed tax-free, but only if you follow the rules—outlined in the Summary Plan Description (SPD).
- Converting non-Roth funds to a Roth account is usually taxable, except for money you’ve already paid tax on. Review the rules carefully—if worried, do some research and/or speak to a tax advisor - every day you wait is potential tax and opportunity lost.