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In Plan Roth Conversion Form (for converting Employer Match)

Employees are allowed to convert their employer match to Roth contributions. The amount that is converted to Roth will be taxable to the worker in the form of a 1099 that the employee will receive from Principal Financial Group. This 1099 must be included with the worker's tax filing for the appropriate year.   

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Please contact the Payroll Team if you have questions about how to fill out this form or the tax implications. 

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All international employees are encouraged to seek tax counsel regarding IRS ruling 70-491 when determining if the Roth option is something they should utilize for their retirement savings. There may be tax implications of selecting Roth for your retirement funds while filing under the Foreign Earned Income Exclusion to consider and discuss with your tax counsel.

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In-Plan Roth Transfer Form

To convert your traditional (pre-tax) 403(b) contributions to Roth (this includes Employer Match, Rollovers, and Elective Deferrals) you can elect a Roth Transfer.

The amount that is converted to Roth will be taxable to the employee in the form of a 1099 that the employee will receive from Principal. This 1099 must be included with the worker's tax filing for the appropriate year. 

Please contact the Payroll Team if you have questions about how to initiate this process or the tax implications. 

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