Pacific Life Launches Roth IRA Conversion Calculator

Newport Beach, Calif. (March 15, 2010)-Pacific Life has added a conversion calculator to its successful "Take a New Look" Roth IRA campaign. Designed to help clients uncover opportunities for tax-free retirement distributions and determine when taxes should be paid, it is a complement to the campaign's existing conversion resources.

Reed Lloyd, assistant vice president of Advanced Marketing, Retirement Solutions Division, explains, "From a tax-planning perspective, individuals may want to use this tool to evaluate if a Roth IRA conversion makes sense for them.  The calculator helps clients determine which resources to use for paying taxes and when the income should be reported.  The software release is also in line with the time of year individuals are likely to address tax and financial planning issues, such as a traditional IRA to Roth IRA conversion, with their advisors."

The tool illustrates three scenarios:

• Keeping the traditional IRA.
• Converting the traditional IRA to a Roth IRA using other assets for taxes.
• Converting the traditional IRA to a Roth IRA using the traditional IRA for taxes.

It also allows the user to choose between reporting all the income in 2010 or one-half in 2011 and one-half in 2012. Using IRA or qualified retirement plan proceeds to pay the tax due on the amount converted will subject these proceeds to both income tax and the 10% early withdrawal penalty (unless an exception applies). The tool's underlying methodology has been developed by Impact Technologies Group, Inc., and is available at www.PacificLife.com.

About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life also counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit the About Pacific Life section of this web site.

Client count as of April 2009 is compiled by Pacific Life using the 2009 FORTUNE 500® list.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable investment options. 

Variable insurance products and mutual funds are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company, and are available through licensed third-party broker/dealers.