ROTH Contribution Options
If you have considered the possibility of a tax diversification strategy for your retirement investing, then MSRP now offers a welcome opportunity. Until April 2011, your contribution to MSRP was always "before taxes". This is the traditional approach-investing the whole dollar from your gross earnings instead of from your lesser take-home pay. Tax-deferred, or "before tax", MSRP accounts still offer the benefit of maximizing long-term growth potential, with your income tax paid only on the amount withdrawn later-in retirement. But now, beginning April 11, 2011, you have a new choice for your MSRP contribution: BEFORE TAXES? or AFTER TAXES?
You can choose to make some or all of your contributions into the 457(b) plan and/or 401(k) plan after taxes by selecting the new Roth contribution option. You may later withdraw those Roth accounts in retirement with no taxes due. Read more information on the ROTH Highlights flyer.
Make a Roth contribution change on-line at MarylandDC.com, login to your account, select on the left side "Contribution Change" and then select on the left which plan to change, and then follow the instructions.
Make a Roth contribution change on paper by completing an enrollment form-Participation Agreement-downloaded from MarylandDC.com, select the top Tab "Forms" and then click on "Enroll by paper", print the form on legal (8½ X 14) paper on your own printer, fill out and sign in ink, and sent the form to the address on the bottom of the form.
Call Team MSRP for more information, 8 a.m. to 11 p.m., at 1-800-545-4730.