Individual Retirement Arrangements (IRAs)

 

Getting Started

IRAs allow you to make tax-deferred investments to provide financial security when you retire.

Assess your financial needs:

  • Where am I, financially? Taking Stock (U.S. Securities and Exchange Commission) can help you evaluate your financial situation.
  • What will my Social Security retirement benefit be? Calculate what you can expect as your Social Security retirement benefit.
  • The Department of Labor and Investor websites also have retirement planning information.

Set up your IRA:

  • What kind of IRA best suits my needs? Traditional IRA or Roth IRA?
  • Traditional vs. Roth IRA comparison chart
  • You can set up an IRA with a:
    • bank or other financial institution
    • life insurance company
    • mutual fund 
    • stockbroker 

Investing your IRA assets:

Contribution Limits

How much can you contribute to your IRA?

Deduction Limits

How much of your IRA contributions can you deduct on your taxes?

Rollovers (See our Rollover Chart PDF PDF)

The why, what, how, when and where about moving your retirement savings.

Distributions

Taking withdrawals from your IRA - when and how much.

Beneficiaries

Information for spousal and non-spousal IRA beneficiaries

Saver's Credit

Individuals may be able to take a tax credit of up to $1,000 if they make eligible contributions to an IRA.

Reporting

Information on Form 5498

Additional IRA Resources

FAQs, forms, publications and other resources for IRAs