Traditional IRA

A Traditional Individual Retirement Account (IRA) allows individuals to direct pre-tax income, up to IRS published annual limits, to an investments account wherein contributions and gains can grow tax-deferred (no capital gains or dividend income is taxed). Contributions to the Traditional IRA may be tax-deductible depending on the taxpayer’s income, tax-filing status and other factors. View Annual Contribution Limits.

At the time an individual begins to receive distributions from a Traditional IRA, the income is treated as ordinary income and may be subject to income tax. People over 50 years of age are allowed higher annual contribution limits to “catch-up” – make up for lost time and underfunding of retirement saving – to support retirement readiness. When an account owner reaches age 70.5, minimum required distributions must be withdrawn annually.

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Employer Sponsors

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Plan Participants

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Professionals

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Office Locations

Jacksonville, FL
Boston, MA
Burlington, VT

Phone

Florida: 904-348-3131

Burlington: (802)-391-4700

Boston: 978-380-5185

Toll Free: 866-202-4646

Fax: 904-348-3136

 

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