What is the difference between before-tax and Roth after-tax contributions?
You do not pay taxes on before-tax contributions, in turn lowering your current taxable income. Instead, your before-tax contributions and their related earnings are taxed at withdrawal, just like ordinary income. Roth after-tax contributions are taxed today but let you build a nest egg of tax-free income in retirement, provided certain conditions* are met. For more details, visit www.voyadelivers.com/roth
*If you keep the Roth money in your account for at least a five taxable-year period, and are age 59½ or older (or upon your death or disability), you’ll pay no taxes on those contributions or earnings when you withdraw them.