Renwanz Insurance & Financial Solutions, Carlsbad, CA
A Roth 401k is a designated Roth account. A designated Roth account is a feature in new or existing 401k, 403b or 457b plans that permit such plans to accept designated Roth contributions.
The combined amount you can contribute to all designated Roth accounts in any one year for an individual under 50 years of age is $17,500 for 2014. If you are age 50 or older by the end of 2014, you can add an additional $5,500 in catch-up contributions.
You can also contribute to both a Roth 401k and a Roth IRA in the same year which can increase the total contribution amount by $6,500 if you are 50 or older.
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The combined amount you can contribute to all designated Roth accounts in any one year for an individual under 50 years of age is $17,500 for 2014. If you are age 50 or older by the end of 2014, you can add an additional $5,500 in catch-up contributions.
You can also contribute to both a Roth 401k and a Roth IRA in the same year which can increase the total contribution amount by $6,500 if you are 50 or older.