Traditional IRAs offer tax-deferred earnings,* and the possibility for tax-deductible* contributions. These tax advantages make the Traditional IRA a powerful tool in creating your balanced, long-term savings plan.
- Contributions may be tax-deductible* and earnings are tax-deferred.*
- IRA owners can make regular contributions up until the tax year in which they attain age 70 ½, when they have earned income.*
- Allowable annual contributions are up to $5,500 for under age 50 and an additional $1,000 Catch-up limit for age 50 and over.
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*Consult a tax professional regarding the tax advantages of IRAs.