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Roth IRA

Roth IRA

A Roth IRA allows you to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ may be tax-free.*

  • Individuals with qualified income may contribute regardless of age.
  • Contributions are nondeductible.
  • Early withdrawals before the age of 59½ are subject to 10% penalty unless disabled or paying for qualified expenses (first home).
  • No distribution requirements.
  • All withdrawals, including earnings, may be tax-free after the age of 72.
  • Not required to take a mandatory distribution.
  • Contributions can be made at any age, with qualified income.
  • Funds can be used to purchase a first home ($10,000 life time maximum).