U.S. workers willing to take tax pain today in exchange fortax-free gains on earnings in their 401(k) retirement accountslater have a new avenue to do so.

The budget legislation passed by Congress Jan. 1 lets 401(k)participants convert any money in their tax-deferred accounts to aso-called Roth 401(k) account, if their employer offers one, whichcan be withdrawn tax-free in retirement. The change is projected toraise $12.2 billion in revenue over 10 years, according to theJoint Committee on Taxation, and help defray the cost of delayingspending cuts that had been set to take effect this month.

“This dramatically expands the number of participants who canuse this provision,” said Bob Holcomb, executive director oflegislative and regulatory affairs for JPMorgan Chase & Co.'sretirement plan services. “It will allow any amount to betransferred.”