There are great tax benefits in participating in a Traditional IRA or a Roth IRA. The Traditional IRA offers tax deduction benefits, and the Roth IRA offers tax-free growth. However, the Roth IRA has income limitations. Employees who earn more than the Roth IRA income limit have a choice to open a Traditional IRA and get the tax deduction benefits.

 

To learn about the limits on Roth IRA contributions based on income, visit: https://www.irs.gov/Retirement-Plans/Roth-IRAs.

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