IRA Comparison
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- Any earnings are tax-free if withdrawn after age 59½ and the account has been open five years or more²
- Contributions (not earnings) can be withdrawn tax and penalty-free at any time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
Who is eligible?
Any age, as long as your modified adjusted gross income (AGI) does not exceed:
| 2009 | |
|---|---|
| Single Tax Filers | $120,000 |
| Joint Tax Filers | $176,000 |
Account owner must have earned income equal to or greater than their IRA contribution amount
See Roth Contribution Chart for more details.Withdrawals
No Required Minimum Distribution (RMD) ever
See Roth IRA Details.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- Any earnings grow tax-deferred until withdrawn after 59½ at which time they are taxed at your current rate
- Contributions and earnings can be withdrawn penalty-free after age 59½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
Who is eligible?
Anyone under the age 70½ who has earned income equal to or greater than their IRA contribution amount.
Withdrawals
A Required Minimum Distribution (RMD) must begin after age 70½
Waived for 2009³
See Traditional IRA Details.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
