Anyone in the US currently working at BC, does your 401K allow for the mega-backdoor Roth, allowing you to get ~70K/yr into your retirement account? Or just a standard 401K plan? VMware has has the mega-backdoor for years, so hoping BC has it as well (assuming I make it through the culling).
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Can someone explain how this works and differs from just contributing to the standard Fidelity 401k VMWare offered??
Well, I like that answer much better, thank you!
Yes, I had to call to setup the transfer with VMware too from after tax to Roth; after that it was automatically transferred each pay period. Are you saying you need to do it each pay period (to keep earnings from landing in your after tax account before conversion to Roth) or just set it up once?
Yes Broadcom does. The first poster is wrong.
You can max out after tax contributions and have it immediately converted to a roth 401k.
You have to call Fidelity to get it set up. (not possible without user interaction... :( )
Fidelity is the plan administrator, so your stuff should transfer fairly easily.
BRCM also uses ADP, so if vmware does your old pay statements will still be visible.
Also HealthEquity for HSA.
etc...
Thank you. That's really unfortunate. :( Who administers your 401K, we have Fidelity at VMware and they, for at least some of their plans, offer the mega-backdoor.
No. We don’t.