IRA's

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 2009, up to $5,000 can be deducted. Taxpayers over age 50, may contribute an extra $1,000 from 2009 – 2010.

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.

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.

Interested in converting your Traditional IRA to a Roth IRA? Chan Wright Insurance Agency can tell you about the special rules that apply.

Need Help Choosing a Plan? Contact Chan Wright Insurance Agency and we will be happy to explain each plan in greater detail.