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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.


SEP IRA

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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Roth and traditional IRA contribution limits

Age 49 and Under
2018
100% of compensation, up to $5,500
2019
100% of compensation, up to $6,000
Age 50 and Older
2018
100% of compensation, up to $6,500
2019
100% of compensation, up to $7,000
2018
2019
Age 49 and Under
100% of compensation, up to $5,500
100% of compensation, up to $6,000
Age 50 and Older
100% of compensation, up to $6,500
100% of compensation, up to $7,000

Roth IRA MAGI Phase-out Ranges

Single Individuals or Head of Household
2018
$120,000 – $135,000
2019
$122,000 – $137,000
Married, Filing Jointly
2018
$189,000 – $199,000
2019
$193,000 – $203,000
Married, Filing Separately
2018
$0 – $10,000
2019
$0 – $10,000

2018
2019
Single Individuals or Head of Household
$120,000 – $135,000
$122,000 – $137,000
Married, Filing Jointly
$189,000 – $199,000
$193,000 – $203,000
Married, Filing Separately
$0-$10,000
$0-$10,000

Traditional IRA MAGI Limit for Partial Deductibility

Traditional IRA MAGI Limit for Partial Deductibility (Single Individuals or Head of Household)
2018
$63,000 – $73,000
2019
$64,000 – $74,000
Traditional IRA MAGI Limit for Partial Deductibility (Married, Filing Jointly)
2018
$101,000 – $121,000
2019
$103,000 – $123,000
Traditional IRA MAGI Limit for Partial Deductibility (Married, Filing Separately)
2018
$0 – $10,000
2019
$0 – $10,000
Traditional IRA MAGI Limit for Partial Deductibility (Non-Active Participant Spouse)
2018
$189,000 – $199,000
2019
$193,000 – $203,000

2018
2019
Single Individuals or Head of Household
$63,000 – $73,000
$64,000 – $74,000
Married, Filing Jointly
$101,000 – $121,000
$103,000 – $123,000
Married, Filing Separately
$0 – $10,000
$0 – $10,000
Non-Active Participant Spouse
$189,000 – $199,000
$193,000 – $203,000

Fund an IRA

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