Should You Convert Your Traditional IRA Into a Roth?
When the Studebaker car company ceased production in 1966, it wasn't just their business that failed. Auditors found that the company's pension fund also had serious problems, leaving thousands of workers with reduced benefits or none at all. The Studebaker employees' retirement was completely reliant on the success of a single company. Sadly, all their eggs were in the wrong basket. In response to this and other pension disasters, congress passed the Employee Retirement Income Security Act (ERISA). One of its key components was the individual [...]