Retirement Accounts

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.

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.

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 Automatic Investment Plan)