COMPARE IRAs

        

      

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Traditional IRA

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Minimum to Open

None

None

Account Fees & Minimums
Who Can Contribute

Anyone under the age of 70½ with earned income or whose spouse has earned income

  • Anyone, at any age, with earned income or whose spouse has earned income
  • 2016 maximum income $132,000 (filing single) or $194,000 (filing joint)
Contribution Limits - 2016

Filing Single - Under 50:    $5,500

Filing Joint - Under 50:     $11,000

Filing Single - Over 50:     $6,500

Filing Joint - Over 50:       $13,000

Filing Single - Under 50:    $5,500

Filing Joint - Under 50:     $11,000

Filing Single - Over 50:     $6,500

Filing Joint - Over 50:       $13,000

Tax Advantages
  • Contributions may be tax-deductible
  • Earnings remain invested tax-deferred
  • Taxes are due at the time of distribution/withdrawal
  • Contributions are made after-tax
  • Earnings remain invested tax-free
  • Withdrawals are tax-free in retirement
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings and tax-deductible contributions are taxed as ordinary income when withdrawn after age 59½
  • An annual Required Minimum Distribution must begin after age 70½
  • Earnings may be withdrawn after age 59½ tax-free, provided the account has been open at least 5 years
  • Contributions can be withdrawn at anytime without penalty
  • No annual lifetime Required Minimum Distribution

Traditional IRA

Learn More »

Minimum to Open

None

Account Fees & Minimums
Who Can Contribute

Anyone under the age of 70½ with earned income or whose spouse has earned income

Contribution Limits - 2016

Filing Single - Under 50:    $5,500

Filing Joint - Under 50:     $11,000

Filing Single - Over 50:     $6,500

Filing Joint - Over 50:       $13,000

Tax Advantages
  • Contributions may be tax-deductible
  • Earnings remain invested tax-deferred
  • Taxes are due at the time of distribution/withdrawal
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings and tax-deductible contributions are taxed as ordinary income when withdrawn after age 59½
  • An annual Required Minimum Distribution must begin after age 70½

Roth IRA

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Minimum to Open

None

Account Fees & Minimums
Who Can Contribute
  • Anyone, at any age, with earned income or whose spouse has earned income
  • 2016 maximum income $132,000 (filing single) or $194,000 (filing joint)
Contribution Limits - 2016

Filing Single - Under 50:    $5,500

Filing Joint - Under 50:     $11,000

Filing Single - Over 50:     $6,500

Filing Joint - Over 50:       $13,000

Tax Advantages
  • Contributions are made after-tax
  • Earnings remain invested tax-free
  • Withdrawals are tax-free in retirement
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings may be withdrawn after age 59½ tax-free, provided the account has been open at least 5 years
  • Contributions can be withdrawn at anytime without penalty
  • No annual lifetime Required Minimum Distribution

Important Legal Disclosures and Information

This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.

Important Investor Information: Brokerage and insurance products are:

Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
Not Insured By Any Federal Government Agency • May Lose Value

Securities products, brokerage services and managed account advisory services are provided by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.

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This document provides information on additional compensation that PNC Investments receives from certain mutual fund companies, 529 plan program managers and insurance companies.

This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.

PNC Investments does not guarantee the performance of any investment. Investing results may vary. Investments may lose money. Diversification and asset allocation may not prevent a loss of investment.

PNC Investments LLC, PNC Insurance Services, LLC and PNC Bank, National Association are each affiliated with The PNC Financial Services Group, Inc.

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