IRA’s Offered by AJNB

Traditional IRA

• Contributions can be made up to $5,000 per year
• Deductible amount depends on your Adjusted Gross Income (AGI)

Roth IRA

• Earnings accumulate tax-free and remain tax-free upon distribution
• To be eligible, your AGI must be under $95,000 for singles and $150,000 for married couples as of December 2000
• Funds may not be withdrawn within the first 5 years after setting up the IRA, without a penalty

Education IRA

• Up to $2000 per year can be put away
• Money will be tax-free, with preferred tax treatment to whom the account goes to, if used for authorized education purposes

Health Savings Account

• Similar to an IRA, but funds are to be set aside solely for the use of future medical expenses

To find out more about the types of IRA’s that we offer, or to get answers to your IRA questions, contact Martha at (618) 833-4546. You can also find helpful information on IRA’s through the IRS website by clicking here.