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  Roth 401(k) Pre-Tax 401(k)
Contributions Designated Roth employee elective contributions are made with after-tax dollars
Traditional, pre-tax employee elective contributions are made with before-tax dollars
Income Limits No income limit to participate
No income limit to participate
Maximum Elective Contribution2 Aggregate employee elective contributions limited to $22,500 in 2023, plus an additional $7,500 for employees age 50 or older3
Same aggregate limit as Roth 401(k) 
Taxation of Withdrawals

Withdrawals of contributions and earnings aren’t taxed if it’s a qualified distribution, i.e., the account is held for at least 5 years and the distribution is made due to:

  • Death
  • Disability, or
  • Reaching 59½ or older  
Withdrawals of contributions and earnings are subject to federal and most state income taxes
Required Minimum Distributions No requirement to start taking distributions while owner is alive, starting January 1, 2024
Distributions must begin no later than age 73 starting  January 1, 2023, increasing to age 75 beginning on January 1, 2033

Your financial professional can help you understand which account or combination of accounts is right for you.



Source: IRS, Roth Comparison Chart, last reviewed on 8/08/2023. 

1Please check with your plan administrator for plan options. 

2This limitation is by individual, rather than by plan. You can split your annual elective deferrals between designated Roth contributions and traditional pre-tax contributions, but your combined contributions can’t exceed the deferral limit: $22,500 in 2023 ($30,000 in 2023 if you’re eligible for catch-up contributions).

3After December 31, 2025, those earning $145,000 in FICA wages for the previous year must direct their catch-up contributions to a Roth account. 

The views expressed here should not be construed as investment advice. They are based on available information and are subject to change without notice. The information above is intended as general information and is not intended to provide, nor may it be construed as providing, tax, accounting, or legal advice. As with all matters of a tax or legal nature, please consult with your tax or legal counsel for advice. This material and/or its contents are current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Hartford Funds.

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The material on this site is for informational and educational purposes only. The material should not be considered tax or legal advice and is not to be relied on as a forecast. The material is also not a recommendation or advice regarding any particular security, strategy or product. Hartford Funds does not represent that any products or strategies discussed are appropriate for any particular investor so investors should seek their own professional advice before investing. Hartford Funds does not serve as a fiduciary. Content is current as of the publication date or date indicated, and may be superseded by subsequent market and economic conditions.

Investing involves risk, including the possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund, or ETF summary prospectus and/or prospectus, which can be obtained from a financial professional and should be read carefully before investing.

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