Employer Plan Rollover Pros and Cons (Facebook Live, March 31 2021)

Video from Facebook live stream from the Facebook group, "Taxes in Retirement," from March 31, 2021. Discussion of the pros and cons of doing rollovers from employer retirement plans like a 401(k), 403(b), TSP or 457 to an IRA.
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DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Tenon Financial LLC make any guarantees to its accuracy.

[@Markazoid6041]

If you rollover from a 457 to a ira and then convert to roth do you lose your state of New York tax savings on the first 20k ?

[@RetirementPlanningEducation]

Sorry, but I'm not sure if the conversion itself is eligible for the $20k exclusion in NYS. But separately, once the money is in a Roth, distributions from the Roth typically wouldn't be taxable anyway, so you wouldn't need the exclusion for your Roth withdrawals anyway.

[@Markazoid6041]

@@RetirementPlanningEducation I know the ROTH withdrawals are tax free. But it seems to me the state tax free 20 k would not be, because its really a rollover to the IRA and not really a withdrawal. Transferring from one institution to another is a pain. They all pass the buck to someone else. Thanks