Retirement Plans

Traditional IRA | Roth IRA | Rollover IRA | 401(k) | 403(b)

Traditional IRA

Savings and Social Security alone won't be enough for retirement. A traditional IRA (Individual Retirement Account) is a great way to save money to supplement your retirement. Even if you're already contributing to your company's 401(k) plan, consider a traditional IRA as the next building block towards building a more comfortable retirement.

Traditional IRAs differ from Roth IRAs in that money going in is pre-taxed, and you only pay taxes when you withdraw.

Tax Advantages
IRAs offer certain tax advantages and benefits that can help you now (and later).

• Tax-deductible contributions - Contributions to a traditional IRA are fully deductible if neither you nor your spouse participates in an employer-sponsored retirement plan (401(k), 403(b) or pension plan).
  
  If you or your spouse do contribute to an employer-sponsored retirement plan, the amount you can deduct depends on your adjusted gross income (AGI). Refer to IRS Publication 590 for deduction information, or talk to your financial advisor
  
  
• Tax-deferred earnings - For all investors, earnings in a traditional IRA are tax-deferred. This means, you do not pay taxes on earnings until you withdraw them.