* Variables that determine deductibility include participation in certain employer retirement plans, income, and other factors.
** Distributions before age 59½ may have an additional 10% IRS early withdrawal penalty tax as well as income tax that may be assessed due to "early" or "premature" distribution, unless exceptions apply.
† Contributions are available at any time without income tax or penalty tax implications. Earnings are available without IRS penalty tax at age 59½.
†† Amount of permissible contributions may be limited based on filing status and income. In 2015, no Roth IRA contributions may be made by:
1) Married couples filing jointly and with a modified adjusted gross income (MAGI) of more than $193,000;
2) Single filers with a MAGI of more than $131,000.
Please refer to IRS Publication 590-A for additional information to assist you with choosing the IRA that is right for you.
This information is made available to you as a self-help tool for your independent use and is not intended to provide investment advice. We cannot and do not guarantee its accuracy and applicability to your individual circumstances. All examples are hypothetical and are for illustrative purposes. Please consult with a financial advisor for a solution suitable for your needs.