[9672]
VIA FAX
February 12, 1998
TO: PENSION COMMITTEE No. 5-98
RE: ROTH IRA AND STATE TAX ISSUES - CONFERENCE CALL
______________________________________________________________________________
The Investment Company Institute has scheduled a conference call on February 17, 1998
at 4:00 p.m. to discuss state tax treatment of Roth IRAs. The tax laws of approximately 22 states
do not accord the Roth IRA tax treatment conforming to treatment under the federal internal
revenue code. For instance, in certain states Roth IRA account earnings may be taxed annually,
and qualified distributions from a Roth IRA may not be tax-free under a state’s tax law. The
purpose of the conference call will be to identify states in which member companies and other
organizations have initiated action to amend state tax law and to coordinate such efforts.
If you would like to participate in the call, please call 1-800-523-5415 and ask for the
"Roth IRA" Conference Call. If you have any questions regarding the subject matter of the call,
please contact either the undersigned at 202-326-5835 or Kathryn Ricard at 202-218-3563.
Russell G. Galer
Associate Counsel
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