ADVISORY/Experts Available To Discuss Things To Consider When Switching from a Traditional IRA to a Roth IRA.

Business Editors

ADVISORY...

--(BUSINESS WIRE)--Dec. 2, 2002

TOPIC: Many people are deciding to convert their traditional individual retirement accounts to Roth IRAs, according to an article by The Washington Post. People who hold traditional IRAs are required to take minimum withdrawals at the age of 70 1/2. These withdrawals are taxable. Roth IRA holders can let their accounts grow tax-free as they wish and can leave the tax-free income to an heir or heirs if they do not need the money for themselves. However, the switch from a traditional IRA to a Roth is not necessarily an easy one. One of the many things to consider is that people who switch must pay a tax on the pretax contributions they made throughout the years to their traditional IRA as well as the earnings, the article says. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: -0-


David Spitzberg, of CPA Firm of David M. Spitzberg, is an expert
regarding general business and tax planning, IRA tax planning, tax
preparation and representation, accounting audit, review and
compilation services and computer consulting. He is a member of the
Pennsylvania Institute of Certified Public Accountants, Pennsylvania
Society of Public Accountants, Beta Gamma Sigma and Beta Alpha Psi.
215-663-8800,
[e-mail]

Peggy Wilson, with more than 18 years with Bankers Systems Inc. (BSI),
is the director of Corporate Marketing Communications. She spearheads
the efforts for positioning and building BSI's brand equity through a
series of initiatives that include brand management, advertising,
public relations, trade show management and external communications.
Wilson shepherded the company's initial branding exploration and
current endeavors to ensure the company's brand essence is clearly and
consistently understood, articulated and supported in corporate
communications and business decisions. She also consults with
companies acquired by Bankers Systems to successfully position and
integrate the corporate brands and set direction for them. Wilson
began her career with Bankers Systems as a manager in Finance where
she was responsible for operations. After seven years, Wilson was
appointed the director of IRA (Individual Retirement Account) business
unit where she was responsible for profit and loss for the division
and responding to regulatory changes that impact retirement accounts.
Under Wilson's directives, the division had the greatest percentage of
increase in sales among the company's five business units. Wilson was
also a key member in a special Bankers Systems "SWAT" team designed to
review new technology solutions, work on marketing and general
communications and implement product launch strategies. Wilson is a
frequent speaker on Brand and Business Management issues.
800-397-2341 ext.5260,
[e-mail];
PR: Katie Hogan, 678-781-7225,
[e-mail]

Professor Craig Langstraat, of the University of Memphis, Fogelman
College of Business and Economics, has expertise in taxation. His
specialties are estate and gift taxation, income taxation of trusts
and estates, estate planning, individual taxation, and retirement
planning.
901-678-4577

ExpertSource cannot guarantee the immediate availability of these
experts or their familiarity with this specific issue.

ExpertSource provides academic and industry experts to the media at no
charge. Journalists are encouraged to submit queries to ExpertSource
when seeking experts on specific subjects. An online registration form
is available at http://www.businesswire.com/ifmd/index.html.