Other agencies rolled out the Roth option in May, after it had been in the works for two years. But technical problems prevented DoD from launching it immediately. Rather, the department is phasing in military personnel.
The last batch of employees should be able to open Roth accounts in October. The new option allows workers to contribute after-tax dollars to their retirement, which means they can withdraw it without paying taxes.
This story is part of Federal News Radio’s daily DoD Report brought to you by United Health Military and Veterans Services. For more defense news, click here.
Tom Temin is the host of The Federal Drive, which airs from 6-8 a.m. on 1500 AM in the Washington, D.C. region and online everywhere. Tom has 30 years experience in journalism, mostly in technology markets. Before coming to Federal News Radio, he was a long-serving editor-in-chief of Government Computer News and Washington Technology magazines.