Who can contribute?

Anyone who has income from compensation (or who is filing jointly with a spouse who earns compensation)

Certain income limits apply - Always talk to your tax advisor for your specific limits.

How much can I contribute?

Maximum amounts are combined with both traditional and Roth Ira’s

$6,000 per year - subject to MAGI limits

Tax Benefits

Earnings grow tax deferred until withdrawn
Contributions may be tax deductible

Withdrawls are penalty free for the following reasons:
  • Qualified higher-education expenses
  • First time home purchase (Lifetime limit for exemption on first-time home purchase is $10,000)
  • Age 59 ½
  • Disability
  • Qualifying medical expenses exceeding 7.5% of income
  • Payment to beneficiaries upon the owner’s death.
  • Payment of health insurance premiums while employed
RATES