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Individual Retirement Account (IRA)

It doesn't matter if your golden years are decades away or right around the corner, now is the perfect time to open an IRA. Not only will you be preparing for your financial future, but an IRA may provide potential tax advantages.1 We offer one IRA plan to help you start saving:

  Traditional IRA. A Traditional IRA plan offers three basic benefits: Security
   for your retirement years; tax-deferred dividends until you withdraw your
   funds (as early as age 59-1/2); and a possible deduction from annual gross
   income on your federal income tax return. These tax advantages make the
   Traditional IRA a powerful tool in creating a balanced, long-term savings
   plan. Get current rates.



Traditional IRA
Eligibility You must be under 70 ½ years old.
Contribution limits
(2009 - 2010)
$5,000
$6,000
(if age 50 or older by 12/31/10)
Contribution
deadline
IRAs must be opened by April 15 the prior tax year, for previous tax year benefits.
Income limit Anyone is eligible to contribute, but not everyone will receive the tax benefit.
Advantages Earnings are tax-deferred until withdrawn. This may help you decrease your taxable income to a lower tax bracket.

No income restrictions.
Disadvantages Withdrawals before 59 ½ are subject to a 10% penalty. 1
Current Rates View


Have an IRA question?
Call (800) 479-7837

 

Open An Account Today:         

1 Contact your tax advisor for details.