Under the new Pension Reform Bill, beginning in 2007, you can roll over a qualified retirement plan, tax-sheltered annuity, or government plan directly to a Roth IRA if all other conversion qualifications (e.g. income below the $100,000 level before 2010) are met.

• Your modified adjusted gross income cannot exceed $100,000.

• The amount you convert is counted for federal taxes as income but does not count toward $100,000 maximum.

• The conversion is treated as a taxable distribution from the traditional IRA.

Still want to do it? Talk to a retirement tax specialist to understand consequences in your individual case.