Pioneer Investments: 2013 Roth IRA Features


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2014 Roth IRA Features

Who May Establish

Age limit: none.
Income limit:¹
$129,000 (single tax return)²
$191,000 (joint tax return).²

Establishment Deadline April 15
Contribution Deadline April 15
Annual Contribution Limit $5,500 for each working individual ($11,000 in total for a working and non-working spouse). Additional $1,000 is allowed if individual is age 50 or older. No tax deduction available.
Contribution Requirements Contributions are discretionary each year.
Withdrawals3 Allowed anytime. Entirely tax-free if certain conditions are met. Otherwise, earnings subject to income tax; a 10% penalty tax may apply before age 59½.
Loan Feature Not available.

  1. The $5,500 ($6,500 if age 50 or older) maximum Roth IRA contribution is reduced for those with Adjusted Gross Income (AGI) between $114,000-$129,000 (single) and $181,000-$191,000 (joint).
  2. For 2013, income limits were $127,000 (single); and $188,000 (joint tax return).
  3. Certain states require state withholding if you elect (or are required) to have federal income tax withheld from distributions. Contact the State Department of Revenue for more information.

This material is not intended to replace the advice of a qualified attorney, tax advisor, investment professional, or insurance agent. Before making any financial commitment regarding the issues discussed here, consult with the appropriate professional advisor.

 

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