Session Expiration Warning
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Traditional IRA
Plan description
An individual retirement plan that permits tax-deferred savings for workers younger than 70½.
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Key features
- Contributions are allowed regardless of the individual's adjusted gross income.
- Contributions may be deductible. Tax deductibility of contributions depends on salary level and whether the IRA owner participates in an employer-sponsored retirement plan.
- Earnings on both deductible and nondeductible contributions accumulate on a tax-deferred basis.
- Withdrawals made prior to 59½ will be taxed as ordinary income and may be subject to an additional 10% tax.
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Who can establish
- Anyone with earned income before the tax year in which 70½ is attained may contribute.
- For married couples filing jointly, a nonworking spouse may also fund an IRA contribution based on the earned income of the working spouse (up to the annual limit).
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Annual contributions
Please see Retirement Plan Limits for the current compensation and contribution limits for this plan.
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Annual fees
$10 per account1 includes 1099-R and 5498.
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| NOT FDIC INSURED |
MAY LOSE VALUE |
NO BANK GUARANTEE |
Consider the investment objectives, risks, and charges and expenses carefully. For this and other information about AIM funds, please obtain a prospectus from your financial adviser and read it carefully before investing.
All data provided by Invesco unless otherwise noted.
01/2010
©2010 Invesco Ltd. All rights reserved.
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