I thought this was a great overview of how the rule change for Roth IRAs will work. The upshot is that the income restrictions on who may open and contribute to a Roth are changing as of January 1st 2010.
From WSJ via Yahoo Finance:
Starting Jan. 1, the income limits that have prevented many individuals…from converting a traditional IRA or employer-sponsored retirement plan to a Roth will be eliminated. The change—one of the biggest and most important on the IRA landscape in years—will widen the entryway to one of the best deals in retirement planning. With a Roth IRA, virtually all income growth and withdrawals are tax-free.
Because there is a high probability that tax rates have only one direction to go (guess which?) to pay for our bailout/ stimulus plans, it is probably a great time to look into what options make sense for your own non-taxable retirement accounts.
The whole article is here: