Find the Right IRA
There are three common types of IRAs available. While all are designed to help you save for retirement, each one has unique benefits and eligibility requirements. Choosing the right one for you is simple once you understand what sets them apart.
No Fee IRA¹
Annual custodial and maintenance fee waived for all IRAs
Account Choices:
Roth IRA
Unique Benefits:
- Any earnings are tax-free if withdrawn after age 59½ and the account has been open five years or more²
- Contributions (not earnings) can be withdrawn tax and penalty-free at any time
- Contributions are not tax-deductible
Traditional IRA
Unique Benefits:
- Any earnings grow tax-deferred until withdrawn after 59½ at which time they are taxed at your current rate
- Contributions and earnings can be withdrawn penalty-free after age 59½
- Contributions may be tax-deductible
Rollover IRA
Unique Benefits:
- Allows you to consolidate retirement plans from former employers while maintaining the account's tax-deferred status and expanding your investment choices.
Contribution Limits
| 2009 |
| $5,000 |
Age 50+ can add $1,000 per year as "catch-up" contribution.
Have a Question?
Call our Retirement Help Desk.
1.800.774.4724Mon-Fri: 8am-9pm ET
Saturday: 9am-5:30pm ET
