Last Thursday September 8th the Warm Springs Tribe’s Human resources department emailed out information to Tribal Employees about the possibility of adding a ROTH 401K as an employment benefit.
The main difference between the ROTH account and the 401K plan that is currently in place is how your income taxes are handled.
Current employee 401K contributions are pre-tax. You pay income taxes when the account is drawn down. A ROTH After Tax 401K means you pay taxed on contributions now but don’t have to pay taxes when you retire and draw on your ROTH funds.
A full explanation can be found HERE
HR is seeking input from employees about if you would be interested in this additional retirement plan option as a benefit. Please send feedback to [email protected]