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Roth IRAs
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Nondeductible from your taxes |
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Tax-free withdrawals once you fulfilled certain criteria |
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You can still contribute even beyond the age of 70½ years |
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You may contribute $5,000 or $6,000 (depending on your age) or up to
100% of your income whichever is less, as long as your Modified Adjusted
Gross Income (MAGI) is within the limits shown below
If you are under 50 years of age at the end of
2010: The maximum contribution that you
can make to a traditional or Roth IRA is the smaller of $5,000 or
the amount of your taxable compensation for 2010. This limit can be
split between a traditional and a Roth IRA but the combined limit is
$5,000. The maximum contribution to a Roth IRA and the maximum
deductible contribution to a traditional IRA may be reduced
depending upon your modified adjusted gross income (modified AGI).
If you are under 50 years of age at the end of
2010: The maximum contribution that you can make to a
traditional or Roth IRA is the smaller of $5,000 or the amount of
your taxable compensation for 2010. This limit can be split between
a traditional and a Roth IRA but the combined limit is $5,000. The
maximum contribution to a Roth IRA and the maximum deductible
contribution to a traditional IRA may be reduced depending upon your
modified
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After holding the Roth IRA for a five-year period, upon reaching age 59½, you may begin to take distributions from your Roth IRA and you will not pay any federal taxes on any of the contributions or earnings |
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Plus, with a Roth IRA, there is no mandatory age to begin making withdrawals |
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Open an IRA CD or IRA Investment Account |
| Roth IRA Single Filer - Modified Adjusted Gross Income |
| MAGI of $105,000 or less: |
Full Contribution |
| MAGI between $105,000 and $120,000: |
Partial Contribution |
| MAGI of $120,000 or more: |
No Contribution |
| Roth IRA Married, Filing Jointly - Modified Adjusted Gross Income |
| MAGI of $167,000 or less: |
Full Contribution |
| MAGI between $167,000 and $177,000: |
Partial Contribution |
| MAGI of $177,000 or more: |
No Contribution |
| Roth IRA Married, Filing
Separately - Modified Adjusted Gross Income |
| MAGI or Zero: |
Full Contribution |
| MAGI between zero and less than $10,000: |
Partial Contribution |
| MAGI of $10,000 or more: |
No Contribution |
To learn more, click " Live Help" to chat with our Customer Service Center, email or Call us toll-free at 1-888-254-9500
All IRAs are fixed rate with the exception of the IRA Investment Account which is a variable rate product and subject to change after account is opened. Substantial penalty may be imposed for early withdrawal. All IRA yields above are subject to change without notice.
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