hero_RothIRA

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Roth IRA

A way to plan for retirement, Roth IRAs allow you the flexibility to keep and build assets for the future instead of relying only on a company pension plan or the unsure future of Social Security.

A Roth IRA provides you with the possibility of withdrawing the earnings on your account tax-free. To qualify for a tax-free distribution, you must have had a Roth IRA for five years and meet one of the qualifying distributable events. The qualifying distributable events are reaching age 59½, death, total disability, or a qualified first time home purchase.

 

You can convert your Traditional IRA to a Roth IRA. Converting to a Roth IRA may provide you with tax advantages in the future. At the time of the conversion, you will have to pay income tax on the taxable portion of the Traditional IRA. You should seek tax advice from a qualified tax advisor before converting your Traditional IRA to a Roth IRA.


Highlights:
• No required minimum distributions during the owner’s lifetime.
• Qualified distributions from your Roth IRA are tax-free.
• Contributions are made with after-tax dollars; earnings are tax-deferred.
• No age limit to make contributions.
• No minimum contribution in any year. The maximum contribution is $5,500 for 2013 (up from $5,000 for 2012) or 100% of your earned income, if less.
• If you are 50 years of age or older, you may contribute an additional $1,000 annually. You may begin taking advantage of the increased limit in the tax year that you reach age 50.
• American Fidelity offers both fixed interest rate and variable rate Roth IRA products.

Not eligible under Section 125

The information contained on this and other product pages generally highlights the important features of the particular American Fidelity product listed, and does not constitute a statement of contract, nor a complete description of the conditions, benefits, exclusions and other terms of coverage. The product listed and/or all benefits may not be available in all states and coverage is subject to all applicable policy provisions as authorized by the proper state regulatory authorities. For more complete information, please consult the terms of the product policy form approved in your state or contact us. Consult with your tax advisor for tax advice and specific Roth IRA rules and guidelines. (FPDA and FVA Series)

ESB-752-1112

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