It's always the right time to start planning for retirement – whether you've just joined the working world or have hit your stride (or have been striding for years) in your career.
Funds grow tax-deferred and withdrawals after the age 59½ are tax-free. Contribution eligibility is based on individual and household income limits.
- Contribution eligibility based on individual and household income level
- Funds are tax deferred while invested, and tax free if withdrawn after age 59½
- No required minimum distributions (RMDs)
- The account balance can pass tax free to beneficiaries at death
- Limits on annual contributions
- Must have taxable income to be eligible to contribute