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    IRAs and Your Retirement

    IRAs can be integral to an effective retirement and are a wise supplement to Social Security.

    The Benefits of IRAs

    By deferring taxes, an IRA has the potential to generate greater investment returns or greater retirement income than a similar non-retirement account.

    IRAs can be funded with rollovers from other IRAs and retirement plans, direct contributions or a combination of those. Traditional and Roth IRAs are commonly established and funded to consolidate assets from previous employers' retirement plans.

    IRAs, like employer retirement plans, are intended for long-term investing. So in exchange for their favorable tax status, there are some restrictions on using funds prior to retirement. A Citi representative can further guide you through the process to ensure you understand the details of your retirement plan investments.

    • Contribute to an existing Citibank IRA
    • View Retirement Planning Center

    Traditional IRA Details

    • Individuals may contribute to both a Traditional and a Roth IRA in the same year
    • Total contributions cannot exceed $5,500 for 2013 and 2014. Individuals age 50 and older may contribute an additional $1,000 in both years
    • Earned income must be greater or equal to contribution amount
    • Contribution is tax-deductible if individual is not covered by an employer-sponsored plan
    • Contribution may be tax-deductible up to contribution amount if covered by an employer-sponsored plan, depending on Modified Adjusted Gross Income (MAGI)
    • Individuals can contribute to a Traditional IRA even if the contributions are not tax­deductible
    • Earnings grow tax-deferred and are taxed as ordinary income upon withdrawal
    Deductibility Schedule

    Roth IRA Details

    • Individuals may contribute to both a Traditional and a Roth IRA in the same year
    • Total contributions cannot exceed $5,500 for 2013 and 2014. Individuals age 50 and older may contribute an additional $1,000 in both years
    • Earned income must be greater or equal to contribution amount
    • Contributions are not tax-deductible
    • Earnings and withdrawals are tax-free when certain requirements are met
    Eligibility and Contribution Schedules

    Rollover Details

    A rollover is the transfer of money from one retirement plan or account to another. Funds maintain tax-deferred status if rolled into another tax-deferred account.

    The benefits of a rollover should be weighed against the benefits of keeping your money with your former employer's plan. We recommend speaking with a knowledgeable Citi representative for assistance in understanding your options.

    Accounts Eligible for Rollover

    Investing is serious business

    Citi Personal Wealth Management offers IRA investment services with professional guidance.

    Learn More

    Citi gives you choices for your future

    From short term to long term plans, FDIC-insured IRA savings through Citibank can help you prepare.

    Learn More

      Terms, conditions and fees for accounts, products, programs and services are subject to change. Citi Personal Wealth Management is a business of Citigroup Inc., which offers investment products through Citigroup Global Markets Inc. ("CGMI"), member SIPC. CGMI and Citibank, N.A. are affiliated companies under the common control of Citigroup Inc. Insurance products are offered through Citigroup Life Agency LLC ("CLA"). In California, CLA does business as Citigroup Life Insurance Agency, LLC (license number 0G56746). Citi and Citi with Arc Design are registered service marks of Citigroup Inc. or its affiliates. CGMI, CLA and Citibank, N.A. are affiliated companies under the control of Citigroup Inc. Investment accounts are carried by Pershing LLC, member FINRA, NYSE, SIPC.

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