Converting or rolling over to a Roth 401(k)
Effective January 1, 2012, the Walgreens Plan will allow you to take either (or both) of these actions if you wish:
Make an "in-plan" Roth 401(k) conversion. This is for people who want to convert the non-Roth portion of their Walgreens Plan account balance to Roth 401(k) monies.
Who is eligible? If you are an active employee who is eligible for an in-service withdrawal, you may elect to take a distribution of available money from your Walgreens Plan account and immediately roll it into the Roth 401(k) Rollover source in your Walgreens Plan account.
How to do this: To convert non-Roth monies in your Walgreens Plan account to Roth 401(k) monies, log on to www.retireonline.com and choose your plan name. Then choose "Forms & Publications" and click the "In-Plan Roth Conversion Form" link. Complete the form and return it to J.P. Morgan Retirement Plan Services as directed on the form.
Important note: Please be aware that there are significant tax consequences to this action. This is a complex financial decision and we strongly encourage you to consult with a tax advisor before initiating such a conversion. The processing methods and tax reporting are subject to change upon receipt of further regulations and/or guidance from the IRS.
Roll over Roth 401(k) monies to your Walgreens Plan account. This is for anyone who wants to roll over Roth 401(k) dollars from another qualified retirement plan into the Walgreens Plan.
Who is eligible? Anyone eligible to participate in the Walgreens Plan who has a Roth 401(k) balance in another qualified retirement plan may roll over these monies to the Walgreens Plan if they choose.
How to do this: To roll over Roth 401(k) monies from another employer's qualified retirement plan to the Walgreens Plan, log on to www.retireonline.com and choose your plan name. Then choose "Forms & Publications" and click the "Welcome guide and plan forms" link. Print and complete the Rollover Application and Rollover Certification forms, and remit as directed on the form.
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