Traditional IRA
An Individual Retirement Account (IRA) in which all savings are tax-deferred.
Contributions may be tax-deductible, depending on your income level and whether or not you are part of an employer-sponsored plan.
Maximum annual contribution
- $5,500
- $6,500 if over age 50
Minimum investment
$2,000 per Fund (or $1,000 with a monthly Systematic Investment Plan)
Roth IRA
An Individual Retirement Account (IRA) that is funded with post-tax income.
Earnings on contributions and future withdrawals are tax-free. Additionally, you are not required to begin taking minimum distributions after a certain age.
Maximum annual contribution
- $5,500
- $6,500 if over age 50
Minimum investment
$2,000 per Fund (or $1,000 with a monthly Systematic Investment Plan)
SEP IRA
A company-funded retirement plan where employers can make deductible contributions directly into accounts established for employees.
Who uses them
- Self-employed individuals
- Small businesses
Investments accumulate tax-deferred, and contributions can vary each year because there is no required annual contribution. Contribution limits are higher than a Traditional or Roth IRA.
Minimum investment
$2,000 per Fund (or $1,000 with a monthly Systematic Investment Plan)
OPEN AN ACCOUNT
Have questions? Contact our Shareholder Services Team at 888-462-5386 – we are always happy to help.
More detailed information about IRA Accounts is available in our IRA Information Booklet.