In an update to a previous post, the House passed the Small Business Jobs and Credit Act of 2010. The Act permits plans to offer conversion of otherwise distributable 401(k) and 403(b) account balances to a Roth account in the plan instead of requiring transfer to a Roth IRA to complete a conversion. The bill also permits governmental 457(b) plans to include a qualified Roth contribution program. The conversion provision will be effective upon enactment. The 457(b) provision is effective for years beginning after December 31, 2010. Click here for a brief from ASPPA regarding these provisions.