ROTH IRAs

With a Roth IRA, you make contributions with money on which you've already paid taxes. Your money can then potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.1


Tax advantages

Earnings
Earnings grow federally tax-free1
Withdrawals
Tax-free withdrawals1
No minimum required distributions (MRDs) during the lifetime of the original owner


Account features

Eligibility
No age limit1
Must have employment compensation
IRA maximum contribution
2013 and 2014: $5,500 ($6,500 if age 50 or older)


Roth IRA modified adjusted gross income (MAGI) phase-out ranges
These are the income ranges in which you are eligible to make a partial contribution to a Roth IRA.

  2013 2014
Single individuals $59,000 - $69,000 $60,000 - $70,000
Married, filing joint tax returns $95,000 - $115,000 $96,000 - $116,000
Married, filing separately $0 - $10,000 $0 - $10,000

 

 

 

*Note: We recommend that you talk to your accountant about how these ranges apply to your particular situation.
1 – It is important to talk to your accountant to determine how a Roth IRA can be applied to your situation.

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