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Individual Retirement Account (IRA)

IRAs are a great alternative or supplement to other employer-sponsored retirement plans such as 401(k)s and 403(b)s. IRAs provide options that can meet your personal tax needs, both now and for the future. Click here to view rates.

Traditional IRA

A Traditional IRA is a tax-advantaged account that allows earnings and deductible contributions to grow tax-deferred. This benefit allows you to avoid paying income taxes on the earnings and deductible contributions to your IRA until you begin taking distributions, usually after retirement.

  • No income limits to establish
  • Contributions may be tax deductible*
  • Must have earned income and be under age 70½ to contribute
  • Earnings are tax-deferred until distributed
  • Distributions may begin at age 59½
  • Early distributions may be subject to penalty*
  • Required minimum distributions after age 70½

Roth IRA

A Roth IRA allows you to accumulate earnings on a tax-deferred basis and withdraw earnings tax-free for qualified distributions. Unlike a Traditional IRA, contributions to a Roth IRA are not deductible on your federal tax return.

  • Income limits must be met for Roth IRA eligibility*
  • Contributions are not tax-deductible
  • No age limit to contribute as long as you have earned income
  • Earnings may be tax free at distribution if qualified*
  • Principal contributions may be distributed without penalty*
  • Qualified distributions on earnings may begin at 59½*
  • Early distributions on earnings are subject to penalty*
  • No required distribution age
  • Traditional IRAs may be converted to Roth IRAs*

AG Loan Fund is an affiliated entity of AG Financial Solutions, one of the nation’s largest church investment and lending institutions.


Simplified Employee Pension (SEP) IRAs are an alternative for self-employed individuals and business owners to provide retirement benefits for themselves and their employees. Similar to a Traditional IRA, SEP IRA funds are taxed upon qualified distributions starting at age 59½ and may be subject to penalty for early distributions. Contributions are generally tax-deductible.

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IRA Contribution Limits (2017/2018)
Roth and Traditional IRA Contribution Limits

For each tax year, you may contribute the following amounts:

  • Age 49 and under – 100% of compensation, up to $5,500
  • Age 50 or older – Additional $1,000
Roth and Traditional IRA Modified Adjusted Gross Income Ranges

For an individual to be eligible to make a contribution to a Roth IRA or a deductible contribution to a Traditional IRA, that person’s modified adjusted gross income (MAGI) must be less than a stated amount, depending on tax-filing status.

Roth IRA MAGI Phase-out Ranges*

  • Single individuals or head of household – $118,000-$133,000
  • Married, filing jointly – $186,0000-$196,000
  • Married, filing separately – $0-$10,000
Traditional IRA MAGI Limit for Partial Deductibility

You can make a partially deductible Traditional IRA contribution in the following income ranges:

  • Single individuals or heads of household – $62,000-$72,000
  • Married, filing jointly – $99,000-$119,000
  • Married, filing separately – $0-$10,000
  • Non-active participant spouse (spouse earns no income) – $186,000-$196,000

Fund an IRA

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