IRA’s

IRA

Farm Family annuity products can be used to fund your IRA.

Traditional Individual Retirement Account

A traditional Individual Retirement Account (IRA) is a special savings plan authorized by the Federal government to help you accumulate funds for your retirement.

Contributions are made each year equaling all or part of your compensation. All earnings you accumulate in your IRA will remain tax-sheltered until withdrawn.

Roth IRA

The Roth IRA is a retirement savings vehicle in which you pay taxes on the money you deposit up-front so you can make tax-free withdrawals during retirement. Certain criteria must be met to participate in a Roth IRA. It is permissible to convert your existing Traditional IRA to a Roth, but you should first consult your tax advisor to determine the advantages.