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Find the IRA that is right for you.

Traditional IRA

Enjoy tax savings while you build your retirement nest egg

Some of the key elements include:

• Earnings grow in your IRA tax-free until withdrawn.
  
  
• Currently, the maximum yearly contribution is $3000 for singles. As a result of the new tax laws, the maximum contribution to a Traditional and a Roth IRA (combined) for an individual are as follows:

Those 50 years and older are allowed to make "catch-up" contributions of $500. Beginning in 2006 the additional "catch-up" contribution will increase to $1,000.

• When you begin making withdrawals, you will be taxed only on the amount you withdraw each year on which taxes have not been previously paid.
  
• Distributions are permitted any time after the age of 59 1/2, but must start by April 1st following the year in which the participant reaches the age of 70 1/2.
  
• Your annual contributions to a Traditional IRA may be tax deductible. Please consult your tax advisor to see if you are eligible for this deduction.
  

Roth IRA

Enhance your retirement savings with a Roth IRA

Some of the key elements include:

• Although the contribution to a Roth IRA is not tax-deductible, the dividends grow tax-free and all withdrawals are tax-free after age 59 1/2. (as long as the money has been in the account for 5 years)
  
• Contributions can be made to your Roth IRA after age 70 1/2.
  
• Distributions are not required after age 70 1/2 or at any point within your lifetime.
  
• Currently, the maximum yearly contribution is $3000 for singles. As a result of the new tax laws, the maximum contribution to a Traditional and a Roth IRA (combined) for an individual are as follows:

Coverdell Education Account

Get a head start and begin saving for the cost of higher education!

Some of the key elements include:

• Parents, grandparents, and other interested parties can set up an account for a minor.
  
• All contributions must be used to pay for higher education expenses. Also included are Vocational/Technical schools.
  
• Any contribution to an Education IRA will not count toward your Traditional or Roth IRA contributions.
  
• Distributions used for qualified education are not taxable.
  
• If the Educational IRA is not used, the money must be withdrawn by the time the beneficiary reaches age 30 or it can be rolled over to another child in the same family.