Traditional IRA

How can a Traditional IRA help you save for retirement?

 

Individual retirement accounts (IRAs) are one of the most viable answers to the question of how to ensure a secure retirement.

 

Traditional IRAs offer the following:

  • Independence - may be opened and funded without any employer participation

  • Immediate tax benefits - tax-deferred earnings until retirement

  • Possible deductions - based on retirement plan participation and income

  • Accessibility - with funds always available, something not generally true of employer plans

  • Flexibility - because there is no minimum contribution in any year

An individual may contribute as long as the IRA holder meets the following:

  • Has not reached the year in which you turn 70½, and 

  • Has earned income equal to or greater than the Traditional IRA contribution.

An IRA holder may contribute up to the lesser of:

  • 100% of earned income, or

  • $5,000 (for 2008 and 2009)

For more information...

Contact one of our member service representatives for more details today.