• Minimum Beginning Age ..............................................................................................None
• Maximum Age .............................................................................................................70½
• Maximum amount of contribution the lessor of earned income or:
• Under Age 50:
• Years 2005-2007................................................................................ $4,000
• Year 2008 .......................................................................................... $5,000
• Beyond 2008 ...................................................................................... $5,000 + CPI
• Age 50 or Over:
• Year 2005 .......................................................................................... $4,500
• Years 2006-2007 ............................................................................... $5,000
• Year 2008 ...........................................................................................$6,000
• Beyond 2008 .......................................................................................$6,000 + CPI
• Income limits for deductible contributions (partial deduction within range):
• Inactive participants in a pension plan ................................................................None
• Active participants, filing single. .....................................................$52,000 - $62,000
• Active participants, filing joint. .....................................................$83,000 - $103,000
• Active participants, married filing single. ..................................................$0 - $10,000
• Inactive participant with active participant spouse,
                                                             filing joint, joint income ...$156,000 - $166,000

• Age at which no penalty is imposed ..............................................................................59½
• Required beginning date April 1 following year became 70½ 

                                                                         ROTH IRAs

Contributions

• Minimum Beginning Age ..............................................................................................None
• Maximum Age .............................................................................................................None
• Maximum amount of contributions:.............................................. See Traditional IRAs above
• Income maximum – regular contributions (partial phase out within range):
• Filing single ..................................................................................$99,000 - $114,000
• Filing joint, joint income .............................................................$156,000 -  $166,000
• Fining separate. .......................................................................................$0 - $10,000
• Income maximum – conversion contributions:
• Filing single ..................................................................................................$100,000
• Filing joint ................................................................................................... $100,000
• Filing separate ...........................................................................................Not Eligible

Distributions

• Age at which no penalty is imposed................................................................................ 59½
• Required beginning date ................................................................................................None
• When income is tax free
• Distributions of contributions. ...........................................................................Always
• Distributions of earnings ...........................After 5 years and one of the following occurs
                                                             turn 59½, death, disability or first home purchase