Terms of Use An IRA is an Individual Retirement Account that provides several tax benefits . IRA accounts can be comprised of fixed income instruments, such as CDs/share certificates, bonds, stocks and mutual funds, to name just a few options. A Traditional IRA enables individuals to save money in a tax-deferred account. What that means is that the earnings from your IRA account will not be taxed until you begin taking money out of the account. Traditional IRA Snapshot Contributions: Tax-dedu  More...

Terms of Use IRAs are a great way for you to save for the future. Your IRA can consist of a range of investments from savings accounts, stocks, bonds, and certificates of deposit or share certificates. You can contribute up to a certain limit each year into your IRA and if you're over 50, you are allowed an additional catch up contribution. The tax advantages of a Traditional or Roth IRA depend on your annual income and whether you are covered by your company's retirement plan. B  More...

Terms of Use: There are a variety of pension plans offered by private sector employers today. This information offers an explanation of traditional defined benefit pension plans insured by Pension Benefit Guaranty Corporation (PBGC): what they are, how they operate, and the rights and options of the workers covered by them. Table of Contents Traditional Pension Plans Predictable, Secure Lifetime Benefits Trends Pension Plan Provisions Federal Insurance For Your Pension Pension Checklist Other   More...

Terms of Use Yes, contributions to a Roth IRA may be withdrawn tax- and penalty-free at any time, for any reason. After the IRA has been established for five years, earnings on contributions may be withdrawn tax- and penalty-free, provided the owner meets any of the following specifications: has reached age 59½ has become permanently and totally disabled is deceased is withdrawing the funds for first-time home purchase First-time home purchase withdrawals are limited to a maximum wi  More...

Terms of Use Yes, you can access the money in a traditional IRA before you retire, but in most cases there are penalties associated with doing so. If you withdraw funds prior to age 59-1/2 from a traditional IRA, they will be taxed at ordinary income tax rates. Withdrawals prior to age 59-1/2 will also be subject to a 10% penalty from the IRS. Any funds withdrawn after age 59-1/2 are penalty-free. The 10% penalty for withdrawing funds prior to age 59-1/2 is waived for any withdrawals   More...

Terms of Use The benefits within your IRA will pass directly to your named beneficiaries without being subject to the estate probate process. Investments in a Traditional IRA or 401(k) retain most of their character as an IRA or 401(k), but they generally must be withdrawn from those accounts over time. The timing of withdrawals depends on whether your spouse inherits it or another beneficiary (such as your child). If your primary beneficiary is your spouse, they have the option of assuming   More...

Terms of Use These are the primary types of IRAs: Traditional IRA Roth IRA SEP IRA Non-deductible IRA Self-directed IRA Spousal IRA Simple IRA Please refer to the related articles on IRAs for more information.

Terms of Use What is a Roth IRA? The purpose of a Roth IRA is to put away money for retirement. To be classified a Roth IRA, the account or annuity must be designated as a Roth IRA when it is set up. An IRA can be a Roth IRA, but neither a SEP IRA nor a SIMPLE IRA can be designated as a Roth IRA. Roth IRAs are funded with after-tax dollars; the contributions are not tax deductible but qualified distributions are tax-free. You may be able to take a Saver's Tax Credit of 10% to 50% of the co  More...

Terms of Use You have until April 15th of the year following the tax year to open and fund an IRA.

Terms of Use Yes, IRAs can be opened and owned only by individuals, so a married couple cannot jointly own an IRA. Traditional IRA rules allow normal contributions even if only one spouse is earning income, so long as you meet the income limitations.