Individual Retirement Accounts (IRAs)
Is your IRA* guaranteed to grow? IRAs from Erie Family Life are. Whether you choose a Traditional, Roth, SEP or SIMPLE IRA, your money will increase with Erie Family Life. IRAs are funded with a fixed rate annuity. Check our current interest rates.
Traditional IRA – If you qualify, your contributions to a Traditional IRA are tax-deductible. For 2013, up to $5,500 can be deducted. Taxpayers over age 50, may contribute an extra $1,000 for 2013.
Roth IRA – Contributions to a Roth IRA are not tax-deductible. The principal benefit of a Roth IRA is that qualified withdrawals are tax-free. Additionally, there are no mandatory withdrawals at age 70 1/2. To learn more, click the link, or talk to an Erie Insurance Agent.
SEP-IRA or SIMPLE IRA – Are you self-employed? A SEP-IRA or a SIMPLE IRA could make sense. These “employer-sponsored” IRAs have special rules and additional benefits like higher contribution limits.
Are you changing jobs? You can transfer money from a 401k or other qualified plan to an Erie Family Life IRA without paying tax. Your local Erie Agent has the details.
Interested in converting your Traditional IRA to a Roth IRA? Your Erie Insurance Agent can tell you about the special rules that apply.
Need Help Choosing a Plan? Contact your Erie Insurance Agent. He or she will be happy to explain each plan in greater detail.
*Life insurance and annuity products are not available in New York. Refer to our Disclaimer for additional information.