Review the options below and then contact us to map your journey.
|traditional ira||roth ira||EMPLOYER SPONSORED PLAN TO IRA ROLLOVER|
|key benefits||Take advantage of tax benefits. Contributions grow tax-deferred.||Enjoy tax-free withdrawals in the future. Contributions grow tax-free.||Tax-deferred growth. May offer greater control in your investment options.|
|maximum annual contribution||Up to $5,500 in 2017. Individuals age 50+ are allowed an additional $1,000 catch-up contribution per year.||Up to $5,500 in 2017. Individuals age 50+ are allowed an additional $1,000 catch-up contribution per year.||No maximum rollover amount. For contribution limits, refer to your applicable plan type.|
|eligibility requirements||Anyone with earned income who is under age 70 1/2 in the contribution year. A non-working spouse may be eligible to contribute up to $5,500 in 2017. Refer to IRS guidelines for further details.||No age limitation. Refer to IRS guidelines for earned income requirements and Modified Adjusted Gross Income limits.||Anyone with employer-sponsored plan assets when you switch jobs or retire.|
|contribution deadline||IRS tax filing deadline, excluding extensions.||IRS tax filing deadline, excluding extensions.||Subject to specific employer plan constraints as well as IRS regulations|
|withdrawals||All distributions are typically subject to federal and state taxes. All funds withdrawn, including principal contributions before age 59½, are subject to a 10% penalty (subject to certain exceptions). Refer to IRS guidelines for further details.||Qualified distributions can be withdrawn at any time without taxes or penalties.(If your account has been open five years AND you are 59½ years old or more, or because of death, disability, and for a first-time home purchase) Refer to IRS guidelines for further details.||Based on your plan type. Refer to Traditional and Roth IRA withdrawal sections for guidelines.|
|age for required distributions||Withdrawals are mandatory upon reaching age 70½. Withdrawals are permitted, penalty free, upon reaching the age 59½.||There is no mandatory distribution age.||Based on your plan type. Refer to Traditional and Roth IRA withdrawal sections for guidelines.|