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Roth IRA

SunTrust Investment Services also offers a Roth IRA to help you plan for your retirement. Unlike the Traditional IRA, your Roth IRA earnings are tax-free when distributed, rather than tax-deferred (if you meet certain criteria), which is a significant benefit for saving for retirement. While Roth IRA contributions are not tax-deductible, earnings are free from federal tax (if certain conditions are met).

Roth IRA advantages include: Eligibility Requirements

You may continue to contribute to a Roth IRA even if you participate in an employer-sponsored plan. A non-working spouse is also eligible even if the working spouse is covered by an employer-sponsored plan.

Maximum Annual Contribution Levels (for 2008 tax year)

While you can contribute to both a Traditional IRA and a Roth IRA in the same year, the total contribution is limited to the individual and joint filer limits shown above.

Rolling Over Other IRAs

Traditional IRA owners may consider converting to a Roth IRA to take advantage of the tax-free earnings. This option is available to single individuals or married couples filing jointly with a MAGI of $100,000 or less. A rollover from a qualified pension plan must be deposited into a Traditional IRA before it can be converted into a Roth IRA.

For additional information:

NOTE: Eligibility and contribution amount information is valid as of January 1, 2008.

Neither SunTrust, its officers, nor its employees give tax or legal advice. Please consult your tax or legal advisor concerning your specific situation.

Additional Information

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